4. A competent authority may refuse to act on a request for cooperation in carrying out an investigation or supervisory activity or to exchange information as provided for in paragraph 3 only where:
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(a)
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such an investigation, on-the-spot verification, supervisory activity or exchange of information might adversely affect the sovereignty, security or public policy of the Member State addressed;
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(b)
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judicial proceedings have already been initiated in respect of the same actions and the same persons before the authorities of the Member State addressed;
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(c)
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final judgement has already been delivered in the Member State addressed in respect of the same persons and the same actions.
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In the event of such a refusal, the competent authority shall notify the requesting competent authority accordingly, providing as detailed information as possible.