1.Within one month of the notification provided for in Article 41, the competent authorities of the home Member State shall communicate to the Member State or Member States within the territory of which the assurance undertaking intends to carry on business by way of the freedom to provide services: At the same time, they shall inform the assurance undertaking concerned accordingly.
(a) | a certificate attesting that the assurance undertaking has the minimum solvency margin calculated in accordance with Articles 28 and 29; |
(b) | the classes which the assurance undertaking has been authorised to offer; |
(c) | the nature of the commitments which the assurance undertaking proposes to cover in the Member State of the provision of services. |
2.Where the competent authorities of the home Member State do not communicate the information referred to in paragraph 1 within the period laid down, they shall give the reasons for their refusal to the assurance undertaking within that same period. The refusal shall be subject to a right to apply to the courts in the home Member State.
3.The assurance undertaking may start business on the certified date on which it is informed of the communication provided for in the first subparagraph of paragraph 1.