(1) The double use of own funds eligible for the Solvency Capital Requirement shall not be allowed among the different insurance undertakings or reinsurance undertakings taken into account in the calculation of group solvency.
(2) For that purpose, when calculating the group solvency and where the methods described in Regulations 233 to 237 do not provide for it, the following amounts shall be excluded:
(a) the value of any asset of the participating insurance undertaking or reinsurance undertaking which represents the financing of own funds eligible for the Solvency Capital Requirement of one of its related insurance undertakings or reinsurance undertakings;
(b) the value of any asset of a related insurance undertaking or reinsurance undertaking of the participating insurance undertaking or reinsurance undertaking which represents the financing of own funds eligible for the Solvency Capital Requirement of that participating insurance undertaking or reinsurance undertaking;
(c) the val
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