(2)In order to facilitate the taking-up and pursuit of the business of life assurance, it is essential to eliminate certain divergences which exist between national supervisory legislation. In order to achieve this objective and at the same time ensure adequate protection for policy holders and beneficiaries in all Member States, the provisions relating to the financial guarantees required of life assurance undertakings should be coordinated.
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New version applies from 13/04/2005 — introduced by Directive 2005/1/EC.
68 provisions change.
Later versions: 10/12/2005, 01/01/2007, 21/09/2007, 20/03/2008, 01/07/2013, 01/01/2016.
Recital 2 changes in this version: compare with the current text.