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European Insurance and Occupational Pensions Authority

Transitional arrangements regarding compliance with the Minimum Capital Requirement

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TITLE I > CHAPTER VI > SECTION 5

Article number:  131

By way of derogation from Articles 139 and 144, where insurance and reinsurance undertakings comply with the Required Solvency Margin referred to in Article 28 of Directive 2002/83/EC, Article 16a of Directive 73/239/EEC or Article 37, 38 or 39 of Directive 2005/68/EC respectively on ►M5  31 December 2015 ◄ but do not hold sufficient eligible basic own funds to cover the Minimum Capital Requirement, the undertakings concerned shall comply with Article 128 by  31 December 2016 .

Where the undertaking concerned fails to comply with Article 128 within the period set out in the first paragraph, the authorisation of the undertaking shall be withdrawn, subject to the applicable processes provided for in the national legislation.

Metadata

RULEBOOK TOPIC:  SECTION 5 - Minimum capital requirement

RULEBOOK CATEGORY:  DIRECTIVE 138/2009/EC (SOLVENCY II DIRECTIVE)

Last update on:  03 May 2021