[295A On-site inspection of EEA [United Kingdom branches of third country] CSDs]
[295A On-site inspection of EEA [United Kingdom branches of third country] CSDs]

[(1)     For the purposes of Article 24(1) of the CSD regulation (co-operation in relation to branches of EEA CSDs) [Article 25(11) of the CSD regulation], the Bank of England may, on giving reasonable notice and at any reasonable time, carry out an on-site inspection of any branch maintained by an EEA CSD [a third country CSD] in the United Kingdom.

(2)     Before carrying out an on-site inspection under subsection (1), the Bank of England must inform the competent authority of the EEA State in which the EEA CSD is established.

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