S.L. 371.9 Art. 6Powers and duties of the Scheme.

(1) The Scheme shall have the power to lend to other

DGSs within the European Union, pursuant to regulation 34.

(2) The Scheme may take out insurance policies, borrow or otherwise incur indebtedness for the purposes of the Scheme’s objective and functions, in any way and under any terms it may consider appropriate.

(3) The Scheme shall ensure that it has in place adequate financial means or relevant financing arrangements to fulfil its objective and functions in accordance with these regulations.

(4) The Scheme shall perform regular stress tests of its systems. Such tests shall take place at least every three years and more frequently where appropriate. The Scheme shall use the information necessary to perform tests of its system only for the performance of those tests and shall keep such information no longer than is necessary for that purpose.

(5) The Scheme shall comply with the requirements of the European Banking Authority when the Authority conducts periodical peer reviews based on the results of the stress test, pursuant to Article 30 of Regulation (EU) No 1093/2010, in order to examine the resilience of the Scheme. The Scheme shall be subject to the requirements of professional secrecy when exchanging information with the European Banking Authority in accordance with Article 70 of Regulation (EU) No 1093/2010.

(6) For the purpose of fulfilling its objectives and functions, the Scheme shall be bound to safeguard and take into account the general interests of depositors entitled to claim under these regulations.