Version status: Applicable | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2016 - onwards
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Article 268 Definitions

1. For the purpose of this Title the following definitions shall apply:

(a) "competent authorities" means the administrative or judicial authorities of the Member States which are competent for the purposes of the reorganisation measures or the winding-up proceedings;

(b) "branch" means a permanent presence of an insurance undertaking in the territory of a Member State other than the home Member State which pursues insurance activities;

(c) "reorganisation measures" means measures involving any intervention by the competent authorities which are intended to preserve or restore the financial situation of an insurance undertaking and which affect pre-existing rights of parties other than the insurance undertaking itself, including but not limited to measures involving the possibility of a suspension of payments, suspension of enforcement measures or reduction of claims;

(d) "winding-up proceedings" means collective proceedings involving the realisation of the assets of an insurance under