(1) Where -

(a) an emergency situation arises which potentially jeopardises the market liquidity and the stability of the financial system in any of the Member States where entities of an investment firm group have been authorised, and

(b) the Bank is the group supervisor in accordance with Regulation 42, the Bank shall, subject to Regulations 13, 14 and 15, alert, as soon as practicable, EBA, ESRB and any relevant competent authorities and shall communicate all information essential for the performance of their tasks.

(2) In this Regulation, "emergency situation" includes -

(a) a situation as described in Article 18 of Regulation (EU) No 1093/2010, and

(b) a situation of adverse developments in markets.