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Article number: 14
1. The taking-up of the business of direct insurance or reinsurance covered by this Directive shall be subject to prior authorisation.
2. The authorisation referred to in paragraph 1 shall be sought from the supervisory authorities of the home Member State by the following:
(a) any undertaking which is establishing its head office within the territory of that Member State; or
(b) any insurance undertaking which, having received an authorisation pursuant to paragraph 1, wishes to extend its business to an entire insurance class or to insurance classes other than those already authorised.
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- EIOPA answered Q&As:
- Question ID: 2025
Metadata
RULEBOOK TOPIC: CHAPTER II - Taking up of business
RULEBOOK CATEGORY: DIRECTIVE 138/2009/EC (SOLVENCY II DIRECTIVE)
Last update on: 03 May 2021