1. For the purposes of conducting a TLPT in relation to a financial entity operating in more than one Member State, the TLPT authority of the home Member State shall:
a. determine which TLPT authorities in host Member States may be involved, taking into account whether one or more critical or important functions are operated in, or shared across, host Member States;
b. inform the TLPT authorities identified according to point (a) of the decision to carry out a TLPT test on the financial entity. Within 20 working days from the receipt of the information on a future conduct of a TLPT, the TLPT authorities of the host Member States may either express their interest in following the TLPT as observers or assign a test manager to participate in the TCT established by the TLPT authority designated as lead in accordance with paragraph 2.
Unless otherwise agreed by the TLPT authorities of the home Member State and of the host Member States, the TLPT authority of the home Member State shall lead
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