Book III: Companies.

I. – The preference shares included in the solvency margin referred to in 1° of I of article R. 385-1 must meet the following conditions: a) These securities carry financial rights defined by the articles of association; the payments corresponding to these rights are equivalent to a fraction of the distributable profit for the financial year, within the meaning ofArticle L. 232-11 of the Commercial Code; b) The supplementary occupational…

The projection according to the scenario mentioned in a of I of article R. 385-4 is carried out over the ten financial years following the end of the previous financial year and according to the following assumptions: 1° The projected premiums correspond to the average premiums collected over the last three financial years. However, if the supplementary occupational pension fund justifies the coherence of this choice, it may project the…

Projections according to the three downgraded scenarios mentioned in b of I of Article R. 385-4 are carried out over the same period and using the same assumptions as those provided for in Article A. 381-1, subject to the following changes: 1° For the scenario of falling interest rates, the level of interest rates for amortisable assets and the level of interest rates used as a reference for calculating technical…