1. For the purposes of conducting a TLPT in relation to a financial entity providing services in more than one Member State, including through a branch, its TLPT authority shall:
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(a)
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determine which TLPT authorities in host Member States shall be involved, taking into account whether one or more critical or important functions are operated in, or shared across, host Member States;
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(b)
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inform the TLPT authorities identified in accordance with point (a) of the decision to carry out a TLPT test on the financial entity;
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(c)
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unless otherwise agreed by the TLPT authorities, the TLPT authority of the financial entity shall lead the TLPT.
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The TLPT authorities of the host Member States may, within 20 working days from the receipt of the information on a future conduct of a TLPT, either express their interest in following the TLPT as observers or assign a test manager to participate in the TLPT. The lead TLPT authority shall provide all TLPT authorities acting as observers in TLPT with the scope specification document, the test summary report, remediation plan and attestation.
The lead TLPT authority shall coordinate all participating TLPT authorities throughout the test and adopt all the decisions necessary to carry out the TLPT appropriately and effectively. The lead TLPT authority may set a maximum number of participating TLPT authorities, where the efficient conduct of the TLPT might otherwise be compromised.