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Version status: Omitted | Document consolidation status: Updated to reflect all known changes
Version date: 31 December 2020 - onwards
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Regulation 27 Exceptions to the rule for deciding the group supervisor

Omitted from 31 December 2020

(1) Notwithstanding regulation 26 -

(a) the PRA is the group supervisor of a group if all the supervisory authorities concerned take a joint decision that the PRA should be the group supervisor; and

(b) the PRA must recognise a joint decision taken by all the supervisory authorities that a supervisory authority other than the PRA should be the group supervisor of a group.

(2) The PRA may ask the other supervisory authorities concerned to consider whether -

(a) the criteria specified in paragraph 2 of Article 247 of the Solvency 2 Directive are appropriate for determining which supervisory authority should be the group supervisor; and

(b) a supervisory authority other than the supervisory authority satisfying those criteria should be the group supervisor.

(3) The PRA may not make a request referred to in paragraph (2) more than once a year.

(4) Where the supervisory authorities are considering (whether at the request of the PRA or another supervisory authority) whether the criteria

Comparing proposed amendment...