Section 1: Administrative approval

Articles in this section · 3

L382-1L382-2L382-3

Article L382-1

French Insurance CodeIn force
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Updated 8 Nov 2023

I. - Supplementary occupational pension funds may not commence operations until they have obtained administrative authorisation issued by the Autorité de contrôle prudentiel et de résolution.

Approval is granted at the request of the fund, for the operations referred to in the first paragraph of article L. 381-1 and for the coverage of additional guarantees referred to in article L. 143-2 arising therefrom. The fund may only carry out the operations for which it has been authorised.

II. - The competent authorities of the other Member State of the European Union or party to the Agreement on the European Economic Area concerned are consulted before granting authorisation to a supplementary occupational pension fund which is :

1° Either a subsidiary of an insurance or reinsurance undertaking authorised in another Member State of the European Union or party to the Agreement on the European Economic Area ;

2° Or a subsidiary of the parent undertaking of an insurance or reinsurance undertaking authorised in another Member State of the European Union or party to the Agreement on the European Economic Area;

3° Or an undertaking controlled by a natural or legal person who also controls an insurance or reinsurance undertaking authorised in another Member State or party to the Agreement on the European Economic Area.

The Autorité de contrôle prudentiel et de résolution shall also consult the authority responsible for supervising credit institutions or investment firms in the Member State of the European Union or party to the European Economic Area Agreement concerned, when deciding on an application for authorisation submitted by a subsidiary of a credit institution or investment firm authorised in another Member State of the European Union or party to the Agreement on the European Economic Area or by a subsidiary of the parent undertaking of an investment firm or credit institution authorised in another Member State of the European Union or party to the Agreement on the European Economic Area or by an undertaking controlled by a person, a natural or legal person who also controls an investment firm authorised or a credit institution authorised in another Member State of the European Union or party to the Agreement on the European Economic Area.

III. - The Autorité de contrôle prudentiel et de résolution informs the European Commission, the European Insurance and Occupational Pensions Authority and the supervisory authorities of the other Member States of the European Union or parties to the Agreement on the European Economic Area of any decision to authorise a supplementary occupational pension fund controlled by a parent undertaking within the meaning of Article L. 356-1, the head office of which is established in a State which is not a party to the Agreement on the European Economic Area. This information specifies the structure of the group.

Mariela Petrova

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Mariela Petrova

Mariela Petrova

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