(1) An insurer or reinsurer to which Regulation 4(2) applies shall provide to the Bank within 6 months after the financial year of the insurer or reinsurer, or at such other times as the Bank may specify, the result of the calculation required by Schedule 2.
(2) The calculation referred to in paragraph (1) shall include all undertakings related to -
(a) the insurance holding company,
(b) the mixed financial holding company,
(c) the third country insurer,
(d) the third country reinsurer,
(e) the asset management company, and
(f) the alternative investment fund manager.
(3) If the calculation referred to in paragraph (1) shows that the solvency of the insurer or reinsurer is, or may be, jeopardised, the Bank shall take appropriate measures at the level of the insurer or reinsurer.
(4) An insurer or reinsurer that fails without reasonable excuse to comply with paragraph (1) commits an offence.