Cap. 647 Art. 57Cooperation with third countries.

(1) The competent authority shall, where necessary, conclude cooperation arrangements with supervisory authorities of third countries concerning the exchange of information with those supervisory authorities of third countries and the enforcement of obligations in accordance with the MiCA Regulation, this Act and any regulations made, and Rules issued thereunder in those third countries:

Provided that the competent authority shall inform the EBA, ESMA and all the European regulatory authorities when it intends to conclude an arrangement as referred to in this sub-article.

(2) The cooperation arrangements referred to in sub-article (1) shall ensure at least an efficient exchange of information that allows the competent authority to carry out its duties under the MiCA Regulation, this Act and any regulations made, and Rules issued thereunder.

(3) The competent authorities shall conclude cooperation arrangements as referred to in sub-article (1) only when the information disclosed is subject to guarantees of professional secrecy that are at least equivalent to those set out in Article 100 of the MiCA Regulation and provided that the exchange of information shall be intended for the performance of the tasks of the competent authority under the MiCA Regulation.