(1) Where an insurance undertaking or reinsurance undertaking has more than one related insurance undertaking or reinsurance undertaking, the group solvency calculation shall be carried out by including each of those related insurance undertakings or reinsurance undertakings.
(2) Where the Bank is the group supervisor and a related insurance undertaking or reinsurance undertaking has its head office in a Member State other than the State, the Bank shall allow the calculation to take account, in respect of the related undertaking, of the Solvency Capital Requirement and the own funds eligible to satisfy that requirement as prescribed by the law of that other Member State unless, in the opinion of the Bank, there is a significant change to the law of that other Member State and it would not be in the interests of policyholders to do so.