In the case of an applicant authorised in the EU either as an investment firm or as a credit institution it is necessary to be appropriately authorised by the relevant competent authority of its home state prior to admittance as an ISE member firm. In Ireland the Central Bank of Ireland as the competent regulatory authority must authorise the entity. For further information please see its website, www.centralbank.ie.For other EU states the entity must be authorised by its home state competent authority to "passport" into Ireland. In either case the entity must be appropriately authorised to undertake the relevant activities it undertakes on the ISE. An applicant that is in the process of applying for authorisation may be considered, but any decision to admit the applicant will be subject to authorisation being granted and will not become effective until after this condition is satisfied.