(1) Where the Bank, the PRA or the FCA concludes that -
(a) non-binding co-operation arrangements with equivalent authorities in relevant third countries would facilitate the more effective performance of relevant functions, and
(b) making the arrangements in line with EBA framework arrangements would meet that object more effectively than bilateral or multi-lateral arrangements with those authorities,
it must make non-binding co-operation arrangements in line with EBA framework arrangements with those authorities.
(2) Where the Bank, the PRA or the FCA makes any non-binding co-operation arrangements with equivalent authorities in relevant third countries (whether or not the arrangements are in line with EBA framework arrangements), it must notify EBA that it has done so.
(3) In this article -
"EBA framework arrangements" means non-binding framework co-operation arrangements concluded by EBA with authorities in relevant third countries under Article 33 of the EBA Regulation (inter