(1) A single supervisor, responsible for co-ordination and exercise of group supervision (in this Chapter referred to as the "group supervisor"), shall be designated from among the supervisory authorities of the Member States concerned in the supervision of a group.
(2) The Bank shall be the group supervisor where all insurance undertakings and reinsurance undertakings in the group are authorised by the Bank.
(3) Where paragraph (2) does not apply and subject to paragraphs (4) to (10), the Bank shall be the group supervisor -
(a) where the group is headed by an insurance undertaking or reinsurance undertaking and that undertaking is authorised by the Bank, or
(b) where the group is not headed by an insurance undertaking or reinsurance undertaking and -
(i) the parent of an insurance undertaking or reinsurance undertaking is an insurance holding company or a mixed financial holding company and that insurance undertaking or reinsurance undertaking is authorised by the Bank,
(ii) there ar
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