(1) Where an electronic money institution that holds an authorisation in another Member State, has a place of business in the State, then the competent authority of that Member State may, having notified the Bank, inspect or investigate the business of that institution for the purposes set out in paragraph (2) and in one or more of the manners set out in paragraph (3).
(2) The purposes referred to in paragraph (1) are for verifying by the competent authority, referred to in that paragraph, of any information provided to that authority in relation to -
(a) the management and ownership of the electronic money institution concerned,
(b) information supplied by that institution in order to secure its authorisation as an electronic money institution, and
(c) information likely to facilitate the monitoring of -
(i) that institution's liquidity and solvency,
(ii) the limitations of that institution's large exposures, and
(iii) that institution's administrative and accounting procedures a