8. Exemption from the submission of information

Where the applicant head undertaking has submitted an application for authorisation for the establishment of a TCB to a competent authority of a Member State, that applicant may be exempted from submitting the information and documents listed in Part I, Section 1 on the applicant, the intermediary and the ultimate parent head undertaking and its group, provided the indicated information is reliable and the circumstances below are met:

• a) the applicant head undertaking, or the intermediary or the ultimate head undertaking respectively, submits a declaration that the indicated relevant information listed in Part I, Sections 1 has not materially changed since the previous application and it is still true, accurate and up-to-date. The declaration should indicate the competent authority holding the relevant information, the references and the date of the previous positive authorisation procedure;
• b) the information is in the language of the Member State where the current application for authorisation has been submitted or in English;
• c) the information will be in the possession of the competent authority following its formal request to the competent authority of the other Member State and the transmission by the latter, with indication of the authorisation procedure where the applicant head undertaking has submitted the relevant information and whether it is pending or has been concluded;
• d) the exchange of information complies with applicable data protection requirements.

The information obtained from other competent authorities should not affect the power of the competent authority to request clarifications, including additional information, to the applicant head undertaking, the intermediary or the ultimate parent head undertaking respectively or to request the submission of the documents where it does not consider them reliable for whatever reason.