Artikel 5

1. All holding arrangements established under Article 3 shall require the approval of the competent authority of the Netherlands, which must be applied for in accordance with the procedure laid down in this Article.
2. The competent authority of New Zealand shall notify the competent authority of the Netherlands of the arrangements established under Article 3. This notification shall be provided at least one month before the commencement of the period for which the arrangements will be in effect, and shall include the following information:
a) the name and address of the entity established in the Netherlands where the stocks are to be held, and the name and address of the entity established in New Zealand that will hold the stocks, or on whose behalf the stocks will be held.
b) the type and quantity of the stocks to be held;
c) the period for which the stocks are to be held;
d) the location, if known, of the depot(s) where the stocks are to be held.
3. The competent authority of the Netherlands shall notify the competent authority of New Zealand whether or not it approves the arrangements notified no later than 5 (five) working days before the start of the period for which authorisation was sought.
4. The competent authority of New Zealand shall notify the competent authority of the Netherlands if there is any significant change in the information supplied in accordance with Paragraph 2 of this Article.
5. Any approval of an application may be withdrawn by the competent authority of the Netherlands if any significant inaccuracy is found in the particulars furnished in respect of that approval under paragraph 2 of this Article. Before withdrawing an approval under this provision the competent authority of the Netherlands shall inform the competent authority of New Zealand and afford the entity with the stockholding obligation, which had furnished the particulars a reasonable opportunity to make representations.
6. Notwithstanding the time limits indicated in Article 5, paragraphs 2 and 3, the competent authorities may, if required by particular circumstances, mutually decide to vary any or all of those time limits.