9A.—(1) F44[In this section and sections 9B, 9C and 9CA]—

“branch” means a branch of a relevant credit institution;

“EEA Agreement” has the same meaning as it has in the European Communities (Amendment) Act 1993;

“EEA state” means—

(a) a member state of the European Communities, or

(b) a state (other than a member state of the European Communities) that is a contracting party to the EEA Agreement;

“relevant credit institution” means a credit institution whose head office is located in a state or territory other than an EEA state and which holds an authorisation to carry on banking business in that state or territory from the authority that exercises in that state or territory functions corresponding to those of the Bank under this Part (“relevant third country authority”).

(2) Subject to the provisions of this section, the Bank may grant an authorisation to a relevant credit institution to operate a branch in the State for the purpose of carrying on banking business in the State.

(3) The Bank shall not grant an authorisation under subsection (2) unless it is satisfied that—

(a) the relevant credit institution is subject, in the state or territory where its head office is located, to regulatory or administrative provisions relating to authorisation to carry on banking business in that state or territory and supervision corresponding to those in the State, and

(b) protection of deposits with the branch, corresponding to the protection provided by the European Communities (Deposit Guarantee Schemes) Regulations 1995 (S.I. No. 168 of 1995), is available to depositors.

(4) An application for authorisation under subsection (2) shall be in such form and contain such information as the Bank may from time to time determine.

F44[(5) The Bank shall notify the European Banking Authority of the following:

(a) the authorisations granted under subsection (2) for branches and any subsequent changes to such authorisations;

(b) the total assets and liabilities of the branches in respect of which an authorisation has been granted under subsection (2), as periodically reported;

(c) the name of the third-country group to which a branch, in respect of which an authorisation has been granted, belongs.]

(6) The grant of an authorisation under subsection (2) shall not constitute a warranty as to the solvency of the relevant credit institution to which it is granted and the Bank shall not be liable in respect of any losses incurred through the insolvency or default of a relevant credit institution to which such authorisation is granted.]