(1) Where the State is a Host Member State and without prejudice to Regulations 89 and 90, a prospectus approved by the competent authority of the Home Member State (including any prospectus drawn up under Article 1(3) of the Directive or the national legislation of the Home Member State implementing the said Article 1(3)) shall be valid for a public offer or an admission to trading in the State, provided that the Bank is notified in accordance with Regulation 55.
(2) The Bank shall not undertake any approval or administrative procedures relating to prospectuses falling within paragraph (1).
(3) If there are significant new factors, material mistakes or inaccuracies, as referred to in Regulation 51, arising since the approval of a prospectus falling within paragraph (1), the Bank may draw the attention of the competent authority of the Home Member State to the need for any new information to be included in a supplement to the prospectus.