(1) Where the Bank ascertains that a payment institution authorised in another Member State having agents or branches in the State contravenes this Part or Part 3 or 4, it shall inform the competent authority of the home Member State of the payment institution concerned without delay.

(2) Where the Bank receives information from a competent authority in another Member State pursuant to the law of that Member State equivalent to paragraph (1), the Bank shall, after having evaluated the information received, without undue delay, take all appropriate measures, available to it under this or any other law of the State, to ensure that the payment institution concerned ceases its contravention.

(3) Where the Bank takes measures under paragraph (2), it shall communicate those measures without delay to the competent authority of the host Member State of the payment institution concerned and to the competent authorities of any other Member State concerned.