S.L. 371.5 Art. 7Other provisions.

(1) This regulation shall apply at least in any of the following circumstances:

(a) a credit institution has obtained a licence through false statements or any other irregular means;

(b) a credit institution, on becoming aware of any acquisitions or disposals of holdings in their capital that cause holdings to exceed or fall below one of the thresholds referred to in article 13(1) or article 13(3) of the Act, fails to inform the competent authority of those acquisitions or disposals in breach of article 13(5) of the Act;

(c) a credit institution listed on a regulated market as referred to in the list to be published by the European Securities and Markets Authority established by Regulation (EU) No 1095/2010 in accordance with Article 47 of Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments, does not, at least annually, inform the competent authority of the names of shareholders and members possessing qualifying holdings and the sizes of such holdings in breach of article 13(5) of the Act;

(d) a credit institution fails to have in place governance arrangements required by the competent authority in accordance with article 17B of the Act;

(e) a credit institution fails to report information or provides incomplete or inaccurate information on compliance with the obligation to meet own funds requirements set out in Article 92 of the CRR to the competent authorities in breach of Article 99(1) of the CRR;

(f) a credit institution fails to report or provides incomplete or inaccurate information to the competent authority in relation to the data referred to in Article 101 of the CRR;

(g) a credit institution fails to report information or provides incomplete or inaccurate information about a large exposure to the competent authority in breach of Article 394(1) of the CRR;

(h) a credit institution fails to report information or provides incomplete or inaccurate information on liquidity to the competent authority in breach of Article 415(1) and (2) of the CRR;

(i) a credit institution fails to report information or provides incomplete or inaccurate information on the leverage ratio to the competent authority in breach of Article 430(1) of the CRR;

(j) a credit institution repeatedly or persistently fails to hold liquid assets in breach of Article 412 of the CRR;

(k) a credit institution incurs an exposure in excess of the limits set out in Article 395 of the CRR;

(l) a credit institution is exposed to the credit risk of a securitisation position without satisfying the conditions set out in Article 405 of the CRR;

(m) a credit institution fails to disclose information or provides incomplete or inaccurate information in breach of Article 431(1), (2) and (3) or Article 451(1) of the CRR;

(n) a credit institution makes payments to holders of instruments included in the own funds of the institution in breach of Article 141 of the CRD or in cases where Articles 28, 51 or 63 of the CRR prohibit such payments to holders of instruments included in own funds;

(o) a credit institution is found liable for a serious breach of the Prevention of Money Laundering Act and, or of any regulations made thereunder;

(p) a credit institution allows one or more persons not complying with article 14(2) and (2A) of the Act to become or remain a director;

(q) a parent institution, a parent financial holding company or a parent mixed financial holding company fails to take any action that may be required to ensure compliance with the prudential requirements set out in Part Three, Four, Six or Seven of the CRR or imposed under point (a) of Article 104(1) or Article 105 of the CRD on a consolidated or sub-consolidated basis.

(2) In the cases referred to in sub-regulation (1), the administrative penalties and other administrative measures that can be applied by the competent authority shall include at least the following:

(a) a public statement which identifies the natural person, credit institution, financial holding company or mixed financial holding company responsible, and the nature of the breach;

(b) an order requiring the natural or legal person responsible to cease the conduct and to desist from a repetition of that conduct;

(c) in the case of a credit institution, withdrawal of the licence of the said credit institution in accordance with article 9 of the Act;

(d) subject to regulation 4(3), a temporary ban against a director of the credit institution or any other natural person, who is held responsible, from exercising functions in credit institutions;

(e) in the case of a legal person, administrative pecuniary penalties of up to 10% of the total annual net turnover including the gross income consisting of interest receivable and similar income, income from shares and other variable or fixed-yield securities, and commissions or fees receivable in accordance with Article 316 of the CRR of the undertaking in the preceding business year: Provided that where the legal person is a subsidiary of a parent undertaking, the relevant gross income shall be the gross income resulting from the consolidated account of the ultimate parent undertaking in the preceding business year;

(f) in the case of a natural person, administrative pecuniary penalties of up to five million euro (€5,000,000);

(g) administrative pecuniary penalties of up to twice the amount of the profits gained or losses avoided because of the breach where those can be determined.