Section 3: Regulatory capital requirement for groups.

I.-The undertaking referred to in Article R. 356-8 or the participating undertaking referred to in II of Article R. 356-24 shall submit to the Autorité de contrôle prudentiel et de résolution, on behalf of the subsidiary insurance or reinsurance undertaking with its head office in France referred to in Article R. 356-24, the application for authorisation to be subject to the rules set out in Articles R. 356-26 and R….

I.-When the Autorité de contrôle prudentiel et de résolution, in its capacity as group supervisor, is informed by a supervisory authority of another Member State of a request to subject a subsidiary having its registered office in that Member State to the rules set out in Articles R. 356-26 and R. 356-27, it shall consult with that supervisory authority with a view to deciding whether or not to grant the…

Where the Autorité de contrôle prudentiel et de résolution is not the group supervisor and where it is informed by a supervisory authority concerned in another Member State of a request to subject a subsidiary having its head office in that Member State to the rules set out in Articles R. 356-26 and R. 356-27, it may issue reservations to the group supervisor, in the absence of a joint decision…

I.-Without prejudice to Articles R. 356-20 to R. 356-20-3, the Solvency Capital Requirement of a subsidiary referred to in Article R. 356-24 is calculated in accordance with the provisions of this Article. II.When the Solvency Capital Requirement of a subsidiary mentioned in Article R. 356-24 is calculated on the basis of an internal model approved at group level and the Autorité de contrôle prudentiel et de résolution considers that the…

Where a supervisory authority of another Member State transmits to the Autorité de contrôle prudentiel et de résolution a proposal similar to those mentioned in II or III of Article R. 356-26 with respect to a subsidiary having its head office in that Member State, the Autorité de contrôle prudentiel et de résolution shall endeavour to reach a decision with the other supervisory authorities of the college of supervisors on…

I.-In the event of non-compliance with the Solvency Capital Requirement of a subsidiary referred to in Article R. 356-24 and without prejudice to the provisions of Article L. 352-7, the Autorité de contrôle prudentiel et de résolution shall immediately communicate to the college of supervisors the recovery plan referred to in the second paragraph of Article L. 352-7 which has been submitted to it by that subsidiary. The Autorité shall…

I.-Where a supervisory authority concerned in another Member State communicates to the Autorité de contrôle prudentiel et de résolution a recovery plan for a subsidiary with its head office in that Member State under conditions similar to those mentioned in I of Article R. 356-27, the Autorité de contrôle prudentiel et de résolution shall endeavour to reach a decision with the supervisory authorities within the college of supervisors on the…

I.-The rules set out in articles R. 356-26 and R. 356-27 cease to apply to the subsidiaries referred to in I of article R. 356-24 in the following cases: a) The condition referred to in a of I of article R. 356-24 is no longer met; b) The condition referred to in b of I of article R. 356-24 is no longer met and the group does not restore compliance…

The rules set out in articles R. 356-26 and R. 356-27 cease to apply to the subsidiaries referred to in II of article R. 356-24 in the following cases: a) The condition referred to in a of II of article R. 356-24 is no longer complied with; b) The condition mentioned in b of II of article R. 356-24 is no longer complied with and the group does not re-establish…

Where, in accordance with Article R. 356-26-1, a subsidiary with its registered office in another Member State has been authorised to be subject to rules similar to those mentioned in Articles R. 356-26 and R. 356-27, the Autorité de contrôle prudentiel et de résolution in its capacity as group supervisor shall immediately inform the supervisory authority of that Member State of its decision, if any, to no longer include that…