1.   When responding to a request made pursuant to Article 2, the requested competent authority shall:

(a)	respond in writing, using the form set out in Annex III;

(b)	take all reasonable steps within its powers to provide the requested cooperation or information;

(c)	act without undue delay and in a manner which ensures that any necessary regulatory action can proceed expediently, taking into account the complexity of the request and the need to involve third parties or another competent authority.

2.   In urgent cases, the requested competent authority may reply to a request for cooperation or exchange of information orally, provided that the response is subsequently given in writing within a reasonable timeframe using the form set out in Annex III, unless the requesting competent authority agrees otherwise.