The Member States shall also provide that the activities listed in Annex I may be carried on within their territories, in accordance with Articles 20(1) to (6), 21(1) and (2), and 22, either by the establishment of a branch or by way of the provision of services, by any financial institution from another Member State, whether a subsidiary of a credit institution or the jointly-owned subsidiary of two or more credit institutions, the memorandum and articles of association of which permit the carrying on of those activities and which fulfils each of the following conditions:
Države članice prav tako predpišejo, da lahko v skladu s členi 20(1) do (6), 21(1) in (2) ter 22 opravlja dejavnosti iz Priloge I na njihovem ozemlju, bodisi z ustanovitvijo podružnice ali z neposrednim opravljanjem storitev, katera koli finančna institucija iz druge države članice, bodisi hčerinsko podjetje kreditne institucije ali hčerinsko podjetje v skupni lasti dveh ali več kreditnih institucij, katerih ustanovna pogodba in statut dovoljujeta nadaljnje opravljanje teh dejavnosti in ki izpolnjuje vse spodaj naštete pogoje: