1. Member States shall ensure that dedicated AML/CFT supervisory colleges are set up by the financial supervisor in charge of the parent undertaking of a group of credit institutions or financial institutions or of the head office of a credit institution or financial institution in any of the following situations:
(a) where a credit institution or a financial institution, including groups thereof, has set up establishments in at least two different Member States other than the Member State where its head office is located;
(b) where a third-country credit institution or financial institution has set up establishments in at least three Member States.
2. The permanent members of the college shall be the financial supervisor in charge of the parent undertaking or of the head office, the financial supervisors in charge of establishments in host Member States and the financial supervisors in charge of infrastructure in host Member States pursuant to Article 38.
3. This Article shall not app
…