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EFTA01381442

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sentences 3 and 4, one-time payments, extraordinary contributions and extraordinary payments, 3 the collection of default interest in the case of late payment of contributions, 4 the arrangements for taking out loans, 5 the requirements for investing available financial means, 6 the conditions for classifying payment commitments in accordance with section 18 (2) and (3) as available financial means. The statutory compensation schemes shall be consulted before the statutory order is issued. (2) The European Banking Authority shall be notified of the contents of the statutory order. (3) The Federal Ministry of Finance may delegate this authority to BaFin by way of a statutory order. Part 3 Inspection of CRR credit institutions by statutory compensation schemes Section 34 Obligation for CRR credit institutions to provide information (1) The CRR credit institutions shall, without undue delay, submit to the statutory compensation scheme to which they are assigned their adopted annual financial statements together with the associated audit report and shall on request provide all information and documents that the compensation scheme needs to perform its functions under this Act. (2) The CRR credit institutions shall inform the compensation scheme of any significant change in their business model or any change in other material circumstances that could significantly increase the volume of the covered deposits or that could give rise to or increase the risk that a compensation event might occur. Section 35 Inspections of CRR credit institutions (1) In order to assess the risk that a compensation event might occur and to monitor compliance with the obligations under section 7 (8), the statutory compensation scheme shall perform regular and ad hoc inspections of the CRR credit institutions assigned to it. It shall tailor the intensity and frequency of the inspections to the probability that a compensation event will occur at a CRR credit institu

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