(1) If an insurer or reinsurer established in the State is directly or indirectly related to an insurer or reinsurer established in another Member State, or an insurer or reinsurer established in the State and an insurer or reinsurer established in another Member State have a common participating undertaking, the Bank shall -

(a) on being requested to do so by the competent authority of the other Member State, communicate to that authority all relevant information that may allow that authority to exercise, or may facilitate the exercise by that authority of, relevant supplementary supervision, or

(b) on its own initiative, communicate any relevant information that in its opinion should be communicated to that authority.

(2) If -

(a) an insurer or reinsurer is directly or indirectly related to a prescribed credit institution or prescribed investment firm, or