Section 3: Regulatory capital requirement for groups.

Articles in this section · 34

R356-8R356-9R356-10R356-11R356-12R356-13R356-14R356-15R356-16R356-17R356-18R356-19R356-20R356-20-1R356-20-2R356-20-3R356-21R356-22R356-23R356-24R356-25R356-25-1R356-25-2R356-26R356-26-1R356-27R356-27-1R356-28R356-28-1R356-28-2R356-29R356-30R356-30-1R356-31

Article R356-25-1

French Insurance CodeIn force
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Updated 7 Nov 2023

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 authorisation requested and, where appropriate, to define the conditions thereof. It shall endeavour to reach a joint decision on the application with the supervisory authority concerned within three months of the communication of the complete application to the college of supervisors.

This joint decision is binding on the Autorité de contrôle prudentiel et de résolution.

II - The Autorité de contrôle prudentiel et de résolution in its capacity as group supervisor shall defer its decision if, during the three-month period referred to in I, it or the other supervisory authority concerned refers the matter to the European Insurance and Occupational Pensions Authority in accordance with Article 19 of Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010. The final decision taken by the European Insurance and Occupational Pensions Authority is binding on the Autorité de contrôle prudentiel et de résolution. If the Board of Supervisors rejects the decision proposed by the expert group of the European Insurance and Occupational Pensions Authority pursuant to Article 44 of Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010, the Autorité de contrôle prudentiel et de résolution shall take a final decision.

III - In the absence of a joint decision by the Autorité de contrôle prudentiel et de résolution in its capacity as group supervisor and the other supervisory authority concerned within the three-month period referred to in I, the Autorité de contrôle prudentiel et de résolution shall itself decide on the application, taking due account during this period of the opinion and reservations expressed by the supervisory authority concerned as well as the reservations expressed by the other supervisory authorities within the college of supervisors.

The Authority shall explain in its decision any significant deviation from the reservations expressed by the supervisory authority concerned. It will send a copy of this decision to the subsidiary and to the other supervisory authority concerned.

Mariela Petrova

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A notary (notaire) is a public officer who authenticates specific deeds (mainly real-estate transfers and certain family-law acts). A corporate lawyer (avocat) advises on strategy, negotiates and drafts company documents, and represents you in disputes. The two roles complement rather than overlap.

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Mariela Petrova

Mariela Petrova

Avocate au Barreau de Paris

Toque #C2396

15+ Years In Corporate Practice

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Communications protected by professional secrecy — secret professionnel de l'avocat, Article 66-5 of the Law of 31 December 1971.

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