Article 36Exercise of the powers of the Lead Overseer outside the Union

1. When oversight objectives cannot be attained by means of interacting with the subsidiary set up for the purpose of Article 31(12), or by exercising oversight activities on premises located in the Union, the Lead Overseer may exercise the powers, referred to in the following provisions, on any premises located in a third-country which is owned, or used in any way, for the purposes of providing services to Union financial entities, by a critical ICT third-party service provider, in connection with its business operations, functions or services, including any administrative, business or operational offices, premises, lands, buildings or other properties:

(a)

in Article 35(1), point (a); and

(b)

in Article 35(1), point (b), in accordance with Article 38(2), points (a), (b) and (d), and in Article 39(1) and (2), point (a).

The powers referred to in the first subparagraph may be exercised subject to all of the following conditions:

(i)

the conduct of an inspection in a third-country is deemed necessary by the Lead Overseer to allow it to fully and effectively perform its duties under this Regulation;

(ii)

the inspection in a third-country is directly related to the provision of ICT services to financial entities in the Union;

(iii)

the critical ICT third-party service provider concerned consents to the conduct of an inspection in a third-country; and

(iv)

the relevant authority of the third-country concerned has been officially notified by the Lead Overseer and raised no objection thereto.

The article continues in the official text.