(1) The Central Bank shall conduct consolidated supervision of corporate groups to assess and, if necessary, require remedial action as authorised in this Act to minimise or eliminate, risks to a licensed financial institution from its membership in a corporate group.
(2) For purposes of consolidated supervision, the prudential requirements specified in section 72 shall be applied on a consolidated basis to —
(a) a licensed financial institution and its affiliates; and
(b) a licensed financial holding company of a licensed financial institution and its affiliates.