(1) The designated authority shall maintain a deposit guarantee scheme in the State.

(2) Paragraph (1) shall not preclude the merger of deposit guarantee schemes in the State and other Member States or the establishment of a cross-border deposit guarantee scheme.

(3) Prior to a merger referred to in paragraph (2) taking place, the written approval of the competent authority and the designated authority is required.

(4) Cross-border deposit guarantee schemes shall be supervised by representatives of the designated authorities of the Member States where the affiliated credit institutions are authorised or registered, as the case may be.