(1) If -
(a) in the opinion of the Bank, a mixed financial holding company that has its head office within the State -
(i) has failed to provide the co-ordinator of the financial conglomerate of which the company is a part, within such reasonable period as is specified by that co-ordinator, with such information as that co-ordinator has reasonably requested for the purpose of enabling it to perform its functions under these Regulations, or
(ii) has failed to comply with any direction or requirement notified to the company in accordance with these Regulations, and
(b) the circumstances are such that the Bank is of the opinion that the stability or soundness of the financial conglomerate is or will become materially affected by the failure,
the Bank shall inform the company accordingly, and shall, by notice in writing, direct the company to rectify the failure within such period as is specified in the notice.
(2) If -
(a) in the opinion of the Bank, a mixed financial holding company that
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