Section VII: Transitional provisions relating to the solvency margin.

French undertakings authorised on 23 July 1976 to conduct one or more of the classes mentioned in 1 to 17 of article R. 321-1, and whose total annual written premiums or contributions as at 31 July 1978, including incidentals and after deduction of cancellations, do not reach six times the minimum amount of the guarantee fund, may be exempted by the Autorité de Contrôle des Assurances et des Mutuelles from…

Notwithstanding the provisions of this section, authorised undertakings may only obtain an extension of their authorisation to operate in other classes mentioned in 1 to 18 of Article R. 321-1 if they can demonstrate that their solvency margin is at least equal to the regulatory amount.

The undertakings referred to in Article R. 310-10-1, authorised on 4 July 1993 to conduct one or more of the classes of business referred to in Article R. 321-1 within the territory of the French Republic, and which comply with the permanent regulatory provisions relating to technical provisions, the solvency margin and the guarantee fund, as well as the undertakings referred to in 1° of Article L. 310-10-1, which comply…