1. No credit institution may have a qualifying holding the amount of which exceeds 15 % of its own funds in an undertaking which is neither a credit institution, nor a financial institution, nor an undertaking carrying on an activity referred to in the second subparagraph of Article 43(2)(f) of Directive 86/635/EEC.
2. The total amount of a credit institution's qualifying holdings in undertakings other than credit institutions, financial institutions or undertakings carrying on activities referred to in the second subparagraph of Article 43(2)(f) of Directive 86/635/EEC may not exceed 60% of its own funds.
3. The Member States need not apply the limits laid down in paragraphs 1 and 2 to holdings in insurance companies as defined in Directive 73/239/EEC [OJ No L 228, 16. 8. 19.73, p. 3.], as last amended by Directive 88/357/EEC [OJ No L 172, 4. 7. 1988, p. 1.], and Directive 79/267/EEC [OJ No L 63, 13. 3. 1979, p. 1.], as last amended by the Act of Accession of 1985.
4. shares held