(1) An entity to which this Regulation applies shall, at least twice in each year, provide the co-ordinator of the conglomerate with a report as to the existence or otherwise of any significant risk concentration at the level of the financial conglomerate concerned. A report must comply with the rules prescribed by this Regulation and by Schedule 2.

(2) This Regulation applies to -

(a) every authorised regulated entity within a financial conglomerate, and

(b) every mixed holding company that heads a financial conglomerate and has its head office within the State.

(3) The responsible entity of the financial conglomerate concerned shall ensure that each entity to which this Regulation applies complies with paragraph (1) by such dates as are specified by the co-ordinator.

(4) If a financial conglomerate has its head office in the State, the Bank may -

(a) set quantitative limits in relation to risk concentration at the level of the conglomerate, and