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Article R356-4 of the French Insurance Code

I.-Without prejudice to the provisions of Article L. 356-7, the Autorité de contrôle prudentiel et de résolution shall consult, within the college of supervisors, the supervisory authorities concerned on any decision of importance for the supervisory tasks of these authorities, relating to: 1° Changes to the shareholder structure, organisation or management of the insurance or reinsurance undertakings in a group, requiring the approval or authorisation of the supervisory authorities; 2°…

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Article R356-5 of the French Insurance Code

Where the Autorité de contrôle prudentiel et de résolution is a group supervisor pursuant to Article L. 356-6 without the parent undertaking being located in France, it may invite the supervisory authority of the Member State in which the parent undertaking has its registered office to request from the parent undertaking all information relevant to the exercise of its rights and obligations of coordination, as defined in Article L. 356-7,…

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Article R356-5-1 of the French Insurance Code

When the Autorité de contrôle prudentiel et de résolution asks a competent authority of another Member State to carry out on-site inspections of an insurance or reinsurance undertaking or of a person linked to it, pursuant to the first paragraph of Article L. 632-12 of the Monetary and Financial Code, in accordance with one of the procedures provided for in Article L. 612-26 of the same code, or when the…

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Article R356-5-2 of the French Insurance Code

Where a request by the Autorité de contrôle prudentiel et de résolution to a competent authority of another Member State to carry out on-site inspections of an insurance or reinsurance undertaking or a person linked to it, pursuant to the first paragraph of Article L. 632-12 of the Monetary and Financial Code, in accordance with one of the procedures provided for in Article L. 612-26 of the same code has…

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Article R356-6 of the French Insurance Code

I.-The equivalence of group supervision exercised by a supervisory authority of a third country to that mentioned in Article L. 356-11 may be determined by a delegated act of the Commission adopted pursuant to paragraphs 3 and 5 of Article 260 of Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 (Solvency II). II – Where no delegated act has been adopted by the Commission,…

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Article R356-7 of the French Insurance Code

I.-For the application of Article L. 356-12, insurance or reinsurance undertakings shall apply either the general principles and methods mentioned in Articles L. 356-6 to L. 356-10 and L. 356-15 to L. 356-24 at the level of the parent undertaking in the third country in accordance with the procedures set out in II, or one of the methods set out in III. II.For the sole purpose of calculating group solvency,…

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Article R356-8 of the French Insurance Code

Articles R. 356-9 to R. 356-22 apply to the participating and parent undertakings mentioned respectively in the second and third paragraphs of Article L. 356-2. For the purposes of the solvency calculation referred to in the first paragraph of Article R. 356-10, the parent undertaking referred to in the third paragraph of Article L. 356-2 is treated as an insurance or reinsurance undertaking subject to the rules laid down in…

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Article R356-9 of the French Insurance Code

The Autorité de contrôle prudentiel et de résolution, in its capacity as group supervisor, shall ensure that the calculations used to verify compliance with the requirements referred to in 2° and 3° of Article L. 356-15 are carried out at least once a year by the undertaking referred to in the first paragraph of Article R. 356-8 or by the undertaking designated in accordance with 5° of Article L. 356-15….

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Article R356-10 of the French Insurance Code

The solvency calculation at the level of the group of insurance and reinsurance undertakings is carried out in accordance with the first method referred to in Article R. 356-19, based on consolidated data. However, the Autorité de contrôle prudentiel et de résolution, in its capacity as group supervisor, may decide, after consulting the other supervisory authorities concerned and the group itself, to apply to the group the second method referred…

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Article R356-11 of the French Insurance Code

I.-The calculation of group solvency takes account of the proportional share held by the undertaking referred to in the first paragraph of article R. 356-8 in its affiliated undertakings. This proportional share corresponds to: a) Where the first method is used, the percentages used to prepare the consolidated financial statements; or b) Where the second method is used, the proportion of the subscribed capital held, directly or indirectly, by the…

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