S.L. 403.17 Art. 7Ultimate parent undertaking at Union level.

Where the participating insurance or reinsurance undertaking or the insurance holding company or the mixed financial holding company, referred to in regulation 3(2)(a) and (b), is itself a subsidiary undertaking of another authorised insurance undertaking, authorised reinsurance undertaking, European insurance undertaking or European reinsurance undertaking, or of another insurance holding company or mixed financial holding company which has its head office in Malta, or in another Member State or EEA State, regulation 9 to 43 shall apply only at the level of the ultimate parent insurance or reinsurance undertaking, insurance holding company or mixed financial holding company which has its head office in Malta, or in another Member State or EEA State.