(1) The group solvency of a participating insurance undertaking or reinsurance undertaking shall be the difference between -
(a) the aggregated group eligible own funds, as provided for in paragraph (2), and
(b) the value in the participating insurance undertaking or reinsurance undertaking of the related insurance undertakings or reinsurance undertakings and the aggregated group Solvency Capital Requirement, as provided for in paragraph (3).
(2) The aggregated group eligible own funds are the sum of -
(a) the own funds eligible for the Solvency Capital Requirement of the participating insurance undertaking or reinsurance undertaking, and
(b) the proportional share of the participating insurance undertaking or reinsurance undertaking in the own funds eligible for the Solvency Capital Requirement of the related insurance undertakings or reinsurance undertakings.
(3) The aggregated group Solvency Capital Requirement is the sum of -
(a) the Solvency Capital Requirement of the participatin
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