(1) If an authorised regulated entity within a financial conglomerate does not comply with a requirement of Part 3, the relevant authority shall, by notice given in writing, direct the entity to take such measures as will rectify the situation within such reasonable period as is specified in the notice.
(2) If, in the opinion of the relevant authority -
(a) the solvency of the regulated entities within a financial conglomerate could be jeopardised, or
(b) the intra-group transactions or risk concentrations of a conglomerate are a threat to the financial position of the regulated entities within the conglomerate,
that authority shall, by notice in writing, direct the regulated entities, and if a mixed financial holding company heads the conglomerate, the company, to take such measures as will rectify the situation within such reasonable period as is specified in the notice.
(3) An authorised regulated entity or mixed financial holding company that has been notified of a direction in acc
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