(1) This regulation applies where an appropriate regulator is the competent authority of the home EEA state and decisions have been made to designate branches of a credit institution or relevant investment firm established in at least two other EEA states as significant.
(2) Where a college of supervisors has not been established in relation to the credit institution or investment firm whose branches have been designated as significant, the appropriate regulator must establish a college of supervisors acting on the basis of agreements entered into pursuant to regulation 15.
(3) Where a college of supervisors has been established by the appropriate regulator under paragraph (2), the requirements in regulation 12A(5) and (6) apply.