S.L. 403.17 Art. 48Mixed-activity insurance holding companies: Intra- group transactions.

(1) In the case referred to in regulation 3(2)(d), where the parent undertaking of one or more insurance undertakings or reinsurance undertakings is a mixed-activity insurance holding company and the competent authority supervises one or more of the insurance undertakings or reinsurance undertakings in the group, the competent authority shall exercise general supervision over transactions between:

(a) the mixed-activity holding company and its related undertakings; and

(b) the authorised insurance undertakings or authorised reinsurance undertakings supervised by the competent authority.

(2) Articles 245, 249 to 255 and 258 of the Solvency II Directive shall apply mutatis mutandis.