(1) An insurance undertaking or reinsurance undertaking shall provide to the Bank information which is necessary for the purposes of supervision in accordance with these Regulations, taking into account the objectives of supervision laid down in Regulations 27 and 28.
(2) The information referred to in paragraph (1), when being submitted in accordance with the supervisory review process, shall include at least the information necessary to enable the Bank -
(a) to assess the system of governance applied by the undertaking, the business it is pursuing, the valuation principles applied for solvency purposes, the risks faced and the risk management systems, and its capital structure, needs and managements, and
(b) to make any appropriate decisions resulting from the exercise of its supervisory functions.
(3) Without prejudice to the powers of the Bank under financial services legislation, the Bank shall exercise those powers -
(a) to determine the nature, the scope and the format of the in
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