5.
When assessing whether the conditions referred to in paragraph 4 are met, ESMA shall consult: the competent authorities of the Member States in which the third-country CSD intends to provide CSD services, in particular, on how the third-country CSD intends to comply with the requirement referred to in point (d) of paragraph 4; the relevant authorities; the responsible third-country authorities entrusted with the authorisation, supervision and oversight of CSDs.
← art_25__para_4__point_d__text_1 · All articles · art_25__para_5__text_1 →
Source: EUR-Lex (Cellar) · retrieved 2026-10-12 · Text as adopted (Official Journal); later amendments are not incorporated in this text.