1. The competent authorities shall grant an authorisation to the credit institution only when there are at least two persons who effectively direct the business of the credit institution.
They shall not grant authorisation if these persons are not of sufficiently good repute or lack sufficient experience to perform such duties.
The Committee of European Banking Supervisors shall ensure the existence of guidelines for the assessment of the suitability of the persons who effectively direct the business of the credit institution.
2. Each Member State shall require that:
(a) any credit institution which is a legal person and which, under its national law, has a registered office shall have its head office in the same Member State as its registered office; and
(b) any other credit institution shall have its head office in the Member State which granted its authorisation and in which it actually carries on its business.