S.L. 403.23 ст. 10Transitional measures on repackaged loans. S.L.403.17

(1) Where an authorised insurance undertaking or an authorised reinsurance undertaking invests in tradeable securities or other financial instruments based on repackaged loans that were issued before the 1 January 2011, the requirements referred to in Article 135(2) of the Solvency II Directive shall apply only in circumstances where new underlying exposures were added or substituted after the 31 December 2014.

(2) Notwithstanding sub-regulations (2) and (3) of regulation 9 of the Insurance Business (Supervision of Insurance and Reinsurance Undertakings in a Group) Regulations, where an authorised insurance undertaking or authorised reinsurance undertaking is subject to group supervision, the transitional measure referred to in sub-regulation (1) shall apply mutatis at the level of the group. mutandis