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3.

The competent authorities of the other Member State involved shall be consulted beforehand in relation to the authorisation of any management company which is one of the following: a subsidiary of another management company, an investment firm, a credit institution or an insurance undertaking authorised in another Member State; a subsidiary of the parent undertaking of another management company, an investment firm, a credit institution or an insurance undertaking authorised in another Member State; or a company controlled by the same natural or legal persons as control another management company, an investment firm, a credit institution or an insurance undertaking authorised in another Member State.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-10 · Text as adopted (Official Journal); later amendments are not incorporated in this text.