(21)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 06/01/2010 — introduced by Solvency II Directive.
62 provisions change.
Later versions: 04/01/2011, 21/07/2011, 20/06/2013, 13/01/2019.
Recital 21 changes in this version: compare with the current text.