1.Any undertaking which, having obtained an authorization from one Member State, obtains an authorization from one or more other Member States to establish other agencies or branches therein may apply for one or more of the following advantages: (a) That the solvency margin referred to in Article 25 be calculated in relation to the entire business which it undertakes within the Community ; in such case, account shall be taken of the premiums or contributions and claims pertaining to the business effected by all the agencies or branches established within the Community; (b) That it be dispensed from lodging the deposit required under Article 23 (2) (e), in such States also; (c) That the assets representing the guarantee fund be kept in any one of the Member States in which it carries out business.
2.Should at least two of the Member States in question approve the application in whole or in part, the competent authority of the Member State in whose territory the oldest establishment of the applicant is situated shall verify the state of solvency of the undertaking with respect to the entire business carried on by it within the Member States which approve the application. However, at the request of the undertaking and with the unanimous approval of the Member States concerned, such verification may be carried out by the competent authority of another Member State. The authority carrying out the verification shall obtain from the other Member States the necessary information regarding the agencies or branches established in their territories.
3.The advantages conferred by this Article may be withdrawn upon the initiative of one or more of the Member States concerned.