1. The competent authorities of the Member States shall inform the Commission and the competent authorities of the other Member States:
(a) of any authorisation of a direct or indirect subsidiary one or more of whose parent undertakings are governed by the laws of a third country;
(b) whenever such a parent undertaking acquires a holding in a Community credit institution such that the latter would become its subsidiary.
When authorisation is granted to the direct or indirect subsidiary of one or more parent undertakings governed by the law of third countries, the structure of the group shall be specified in the notification which the competent authorities shall address to the Commission in accordance with Article 11.
2. The Member States shall inform the Commission of any general difficulties encountered by their credit institutions in establishing themselves or carrying on banking activities in a third country.
3. The Commission shall periodically draw up a report examining the t