French Insurance Code
In forceWhen the Autorité de contrôle prudentiel et de résolution considers that the rights of insurance undertakings are threatened by the insufficient quality of the assets mobilised pursuant to Article R. 426-5 or their insufficient adequacy to the liquidity needs of the fund, it may, after having given the Union des entreprises et des salariés pour le logement the opportunity to make its observations, limit the commitments authorised under 6° of the same article. Each year, the Union des entreprises et des salariés pour le logement may ask the supervisory authority to review its decision. The supervisory authority makes its decision within three months of this request after giving the Union des entreprises et des salariés pour le logement the opportunity to comment.
If there is no explicit confirmation of the limitation provided for in the first paragraph at the end of this three-month period, this limitation is lifted.
