(1) The Bank’s role in exercising supplementary supervision of insurers and reinsurers to which Regulation 4 applies does not imply that the Bank is required to undertake a supervisory role in relation to a third country insurer, a third country reinsurer, an insurance holding company, a mixed financial holding company, a mixed activity insurance holding company, an asset management company or an alternative investment fund manager.
(2) However, the Bank's role in exercising supplementary supervision over an insurer or reinsurer to which Regulation 4 applies does extend to exercising supervision over -
(a) an undertaking related to the insurer or reinsurer, and
(b) a participating undertaking in the insurer or reinsurer, and
(c) an undertaking related to a participating undertaking in the insurer or reinsurer.
(3) In exercising supplementary supervision for the purposes of these Regulations, the Bank is not required to take account of an undertaking that has its registered office in
…