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Directive 2005/68/EC - Reinsurance DirectiveRecitalsTitle I Scope and Definitions (arts. 1-2)Article 1 ScopeArticle 2 DefinitionsTitle II The Taking-up of the Business of Reinsurance and Authorisation of the Reinsurance Undertaking (arts. 3-14)Article 3 Principle of authorisationArticle 4 Scope of authorisationArticle 5 Form of the reinsurance undertakingArticle 6 ConditionsArticle 7 Close linksArticle 8 Head office of the reinsurance undertakingArticle 9 Policy conditions and scales of premiumsArticle 10 Economic requirements of the marketArticle 11 Scheme of operationsArticle 12 Shareholders and members with qualifying holdingsArticle 13 Refusal of authorisationArticle 14 Prior consultation with the competent authorities of other Member StatesTitle III Conditions Governing the Business of Reinsurance (arts. 15-44)Chapter 1 Principles and methods of financial supervision (arts. 15-31)Section 1 Competent authorities and general rules (arts. 15-18)Article 15 Competent authorities and object of supervisionArticle 16 Supervision of branches established in another Member StateArticle 17 Accounting, prudential and statistical information: supervisory powersArticle 18 Transfer of portfolioSection 2 Qualifying holdings (arts. 19-23)Article 19 AcquisitionsArticle 19a AssessmentArticle 20 Acquisitions by regulated financial undertakingsArticle 21 DisposalsArticle 22 Information to the competent authority by the reinsurance undertakingArticle 23 Qualifying holdings: powers of the competent authoritySection 3 Professional secrecy and exchanges of information (arts. 24-30)Article 24 ObligationArticle 25 Exchange of information between competent authorities of Member StatesArticle 26 Cooperation agreements with third countriesArticle 27 Use of confidential informationArticle 28 Exchange of information with other authoritiesArticle 29 Transmission of information to central banks and monetary authoritiesArticle 30 Disclosure of information to government administrations responsible for financial legislationSection 4 Duties of auditors (art. 31)Article 31 Duties of auditorsChapter 2 Rules relating to technical provisions (arts. 32-34)Article 32 Establishment of technical provisionsArticle 33 Equalisation reservesArticle 34 Assets covering technical provisionsChapter 3 Rules relating to the solvency margin and to the guarantee fund (arts. 35-41)Section 1 Available solvency margin (arts. 35-36)Article 35 General ruleArticle 36 Eligible itemsSection 2 Required solvency margin (arts. 37-39)Article 37 Required solvency margin for non-life reinsurance activitiesArticle 38 Required solvency margin for life reassurance activitiesArticle 39 Required solvency margin for a reinsurance undertaking simultaneously conducting non-life and life reinsuranceSection 3 Guarantee fund (arts. 40-41)Article 40 Amount of the guarantee fundArticle 41 Review of the amount of the guarantee fundChapter 4 Reinsurance undertakings in difficulty or in an irregular situation and withdrawal of authorisation (arts. 42-44)Article 42 Reinsurance undertakings in difficultyArticle 43 Financial recovery planArticle 44 Withdrawal of authorisationTitle IV Provisions Relating to Finite Reinsurance and Special Purpose Vehicles (arts. 45-46)Article 45 Finite reinsuranceArticle 46 Special purpose vehiclesTitle V Provisions Relating to Right of Establishment and Freedom to Provide Services (arts. 47-48)Article 47 Reinsurance undertakings not complying with the legal provisionsArticle 48 Winding-upTitle VI Reinsurance Undertakings Whose Head Offices are Outside the Community and Conducting Reinsurance Activities in the Community (arts. 49-50)Article 49 Principle and conditions for conducting reinsurance businessArticle 50 Agreements with third countriesTitle VII Subsidiaries of Parent Undertakings Governed by the Laws of a Third Country and Acquisitions of Holdings by Such Parent Undertakings (arts. 51-52)Article 51 Information from Member States to the CommissionArticle 52 Third country treatment of Community reinsurance undertakingsTitle VIII Other Provisions (arts. 53-56)Article 53 Right to apply to the courtsArticle 54 Cooperation between the Member States and the CommissionArticle 55 Committee procedureArticle 56 Implementing measuresTitle IX Amendments to Existing Directives (arts. 57-60)Article 57 Amendments to Directive 73/239/EECArticle 58 Amendments to Directive 92/49/EECArticle 59 Amendments to Directive 98/78/ECArticle 60 Amendments to Directive 2002/83/ECTitle X Transitional and Final Provisions (arts. 61-66)Article 61 Right acquired by existing reinsurance undertakingsArticle 62 Reinsurance undertakings closing their activityArticle 63 Transitional period for Articles 57(3) and 60(6)Article 64 TranspositionArticle 65 Entry into forceArticle 66 AddresseesAnnex IAnnex IIDone at
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Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2016 - onwards
Version 3 of 3

Article 3 Principle of authorisation

Repealed from 1 January 2016

[deleted]

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