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Version date: 18 January 2015 - onwards
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Article 353 Assessment of an emergency situation: criteria

In assessing whether a situation should be considered as an emergency situation, in accordance with Article 239(2) of Directive 2009/138/EC, the supervisory authority having authorised the subsidiary shall consider whether any of the following criteria is met:

(1) the time required to cooperate, exchange information and consult within the college would jeopardise the effectiveness of the measures to be taken;

(2) a delay in the application of the proposed measures is likely to cause the financial conditions of the subsidiary to further deteriorate in such a way that there is a risk that the subsidiary will not comply with its Minimum Capital Requirement in the following three months.

Comparing proposed amendment...