S.L. 403.17 ст. 6Scope of group supervision.

(1) Without prejudice to regulation 42 and in so far as insurance holding companies or mixed financial holding companies are concerned, the exercise of group supervision by the competent authority in accordance with regulations 3, 4 and 5, shall not imply that the competent authority is required to play a supervisory role in relation to the third country insurance undertaking, third country reinsurance undertaking, the insurance holding company, mixed financial holding company or the mixed-activity insurance holding company, taken individually.

(2) Where the competent authority is the group supervisor of a group, it may decide on a case-by-case basis not to include an undertaking in the group supervision referred to in regulations 3, 4, and 5, where:

(a) the undertaking is situated in a third country, where there are legal impediments to the transfer of the necessary information, without prejudice to the provisions of regulation 21;

(b) the undertaking which should be included is of negligible interest with respect to the objectives of group supervision; or

(c) the inclusion of the undertaking would be inappropriate or misleading with respect to the objectives of the group supervision.

(3) Where several undertakings of the same group, taken individually, may be excluded pursuant to sub-regulation (2)(b), such undertakings shall nevertheless be included where, collectively, they are of non-negligible interest.

(4) Where the competent authority is the group supervisor of the group and is of the opinion that an insurance or reinsurance undertaking is not to be included in the group supervision, based on sub-regulation (2)(b) or (c), it shall consult other regulatory authorities concerned in the supervision of the group, before taking a decision in accordance with sub-regulation (2).

(5) Where the competent authority is one of the authorities responsible for the supervision of an individual insurance or reinsurance undertaking in a group and is not the group supervisor, and the group supervisor has decided, in accordance with Article 214 of the Solvency II Directive, not to include that authorised insurance undertaking or authorised reinsurance undertaking in the group supervision, the competent authority may require the undertaking which is at the head of the group to provide any information which may facilitate the competent authority’s supervision of the excluded authorised insurance undertaking or authorised reinsurance undertaking.