Phasing-in

1.  From 1 April 2015, Member States shall ensure that the supervisory authorities have the power to decide on the approval of:

(a) ancillary own funds in accordance with Article 90;

(b) the classification of own funds items referred to in the third paragraph of Article 95;

(c) undertaking specific parameters in accordance with Article 104(7);

(d) a full or partial internal model in accordance with Articles 112 and 113;

(e) special purpose vehicles to be established in their territory in accordance with Articles 211;

(f) ancillary own funds of an intermediate insurance holding company in accordance with Article 226(2);

(g) a group internal model in accordance with Article 230, Article 231 and Article 233(5);

(h) the use of the duration based equity risk sub-module in accordance with Article 304;

(i) the use of the matching adjustment to the relevant risk-free interest rate term structure in accordance with Articles 77b and 77c;

(j) where Member States so require, the use of the volatility adjustment to the relevant risk-free interest rate term structure in accordance with Article 77d;

(k) the use of the transitional measure on the risk-free interest rates in accordance with Article 308c;

(l) the use of the transitional measure on technical provisions in accordance with Article 308d.

2.  From 1 April 2015, Member States shall ensure that the supervisory authorities have the power to:

(a) determine the level and scope of group supervision in accordance with Title III, Chapter I, Sections 2 and 3;

(b) identify the group supervisor in accordance with Article 247;

(c) establish a college of supervisors in accordance with Article 248.

3.  From 1 July 2015, Member States shall ensure that the supervisory authorities have the power to:

(a) decide to deduct any participation in accordance with the second subparagraph of Article 228;

(b) determine the choice of method to calculate group solvency in accordance with Article 220;

(c) make the determination on equivalence, where appropriate, in accordance with Articles 227 and 260;

(d) permit insurance and reinsurance undertakings to be subject to Articles 238 and 239, in accordance with Article 236;

(e) make the determinations referred to in Articles 262 and 263;

(f) determine, where appropriate, the application of transitional measures in accordance with Article 308b.

4.  Member States shall oblige the supervisory authorities concerned to consider applications submitted by insurance and reinsurance undertakings for approval or permission in accordance with paragraphs 2 and 3. The decisions taken by the supervisory authorities on applications for approval or permission shall not become applicable before 1 January 2016.