1. Data used in the internal model shall only be considered accurate for the purposes of Article 121(3) of Directive 2009/138/EC where all of the following conditions are met:
(a) the data are free from material errors;
(b) data from different time periods used for the same estimation are consistent;
(c) the data are recorded in a timely manner and consistently over time.
2. Data used in the internal model shall only be considered complete for the purposes of Article 121(3) of Directive 2009/138/EC where all of the following conditions are met:
(a) data include sufficient historical information to assess the characteristics of the underlying risk, in particular to identify trends in the risks;
(b) data that comply with point (a) of this paragraph are available for all relevant model parameters and no such relevant data are excluded from the use in the internal model without justification.
3. Data used in the internal model shall only be considered appropriate for the purposes of Articl
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