# Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions (recast) (Text with EEA relevance) (repealed), Division 58: Competent authorities may dispense with the condition contained in point 54(b) for exposures fully and completely secured by mortgages on commercial property which is situated within their territory, if they have evidence that a well-developed and long-established commercial real estate market is present in their territory with loss-rates which do not exceed the following limits:

Extent: E+W+S+N.I.
Status: repealed

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

---
Source: https://www.legislation.gov.uk/eudr/2006/48/annex/VI/part/1/division/9/division/9.2/division/58 (the official version)
Page: https://openlegislation.uk/eu-directive-2006-48/annex-VI/part-1/division-9/division-9.2/division-58
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.