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Article R351-28 of the French Insurance Code

I.-The undertakings mentioned in Article L. 351-7 are prohibited from making a distribution relating to one of the items mentioned in i and ii of a of Article 69 of Commission Delegated Regulation (EU) No 2015/35 of 10 October 2014, classified in Level 1 as provided for in Article R. 351-23, in the event of non-hedging of the Solvency Capital Requirement or where such distribution is on such a scale…

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