(1) The competent authority shall be the relevant administrative authority for the purposes of paragraph (a) of the definition of "unavailable deposit".

(2) The competent authority, the designated authority and the resolution authority shall cooperate with each other and exercise their powers in accordance with these Regulations.

(3) The competent authority shall make the determination referred to in the definition of "unavailable deposit" as soon as possible and, in any event, not later than 5 working days after first becoming satisfied that a credit institution has failed to repay deposits which are due and payable.