(1) Every entity to which this Regulation applies shall, at least twice in each year, provide the co-ordinator of the conglomerate with a report giving particulars of all significant intra-group transactions of the regulated entities within the conglomerate. 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) To the extent that no definition of the thresholds referred to in the last sentence of paragraph 1(2) of Schedule 2 has been prepared, an intra-group transaction is presumed to be significant if its amount exceeds at least 5 per cent of the total amount of capital adequacy requirements at the level of a financial conglomerate.