The huge number of institutions in certain Member States means a pragmatic solution is necessary as regards prior authorisation of institutions. However, if an institution wishes to manage a scheme in another Member State, a prior authorisation granted by the competent authority of the home Member State should be required.
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New version applies from 13/01/2019 — introduced by Directive (EU) 2016/2341.
71 provisions change.
Recital 21 is deleted from 13/01/2019.