French Insurance Code
In forceSupplementary occupational pension funds belonging to a group within the meaning of Article L. 356-1 are subject to group supervision under the conditions laid down in Chapter VI of Title V of Book III, without prejudice to the sector-specific rules applicable to them.
Supplementary occupational pension funds belonging to a financial conglomerate within the meaning of Article L. 517-3 of the Monetary and Financial Code are subject to supplementary supervision under the conditions laid down in Chapters VII of Title I of Book V and III of Title III of Book VI of the same code, without prejudice to the sectoral rules mentioned in 2° of Article L. 517-2 of this code which are applicable to them.
For the application of the first paragraph, when the supplementary occupational pension fund is, within the meaning of Article L. 356-1 of this Code, the ultimate parent undertaking of the group to which it belongs, group control is applied under the conditions set out in the second paragraph of Article L. 356-2. For this purpose, the supplementary occupational pension fund is treated, for the purposes of Chapter VI of Title V of Book III, as a life insurance undertaking covered by the Solvency II regime within the meaning of Article L. 310-3-1.
