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Preamble
Recitals 44
Title I - SCOPE AND DEFINITIONS (Article 1-2) 2
Title II - THE TAKING-UP OF THE BUSINESS OF REINSURANCE AND AUTHORISATION OF THE REINSURANCE UNDERTAKING (Article 3-14) 12
Title III - CONDITIONS GOVERNING THE BUSINESS OF REINSURANCE (Article 15-44) 30
- Chapter 1 - Principles and methods of financial supervision (Article 15-31) 17
- Chapter 2 - Rules relating to technical provisions (Article 32-34) 3
- Chapter 3 - Rules relating to the solvency margin and to the guarantee fund (Article 35-41) 7
  - Section 1 - Available solvency margin (Article 35-36) 2
  - Section 2 - Required solvency margin (Article 37-39) 3
  - Section 3 - Guarantee fund (Article 40-41) 2
    
    Article 40 - Amount of the guarantee fund
    
    Article 41 - Review of the amount of the guarantee fund
- Chapter 4 - Reinsurance undertakings in difficulty or in an irregular situation and withdrawal of authorisation (Article 42-44) 3
Title IV - PROVISIONS RELATING TO FINITE REINSURANCE AND SPECIAL PURPOSE VEHICLES (Article 45-46) 2
Title V - PROVISIONS RELATING TO RIGHT OF ESTABLISHMENT AND FREEDOM TO PROVIDE SERVICES (Article 47-48) 2
Title VI - REINSURANCE UNDERTAKINGS WHOSE HEAD OFFICES ARE OUTSIDE THE COMMUNITY AND CONDUCTING REINSURANCE ACTIVITIES IN THE COMMUNITY (Article 49-50) 2
Title VII - SUBSIDIARIES OF PARENT UNDERTAKINGS GOVERNED BY THE LAWS OF A THIRD COUNTRY AND ACQUISITIONS OF HOLDINGS BY SUCH PARENT UNDERTAKINGS (Article 51-52) 2
Title VIII - OTHER PROVISIONS (Article 53-56) 4
Title IX - AMENDMENTS TO EXISTING DIRECTIVES (Article 57-60) 4
Title X - TRANSITIONAL AND FINAL PROVISIONS (Article 61-66) 6
Annexes 2
- Annex I
- Annex II
Amending acts 3

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New version applies from 21/09/2007 — introduced by Directive 2007/44/EC. 114 provisions change. Later versions: 21/03/2008, 01/07/2013. Article 40 changes in this version: compare with the current text.

View as of 21/09/2007 What changes

Article 40 - Amount of the guarantee fund

Article 40

Amount of the guarantee fund

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1. One third of the required solvency margin as specified in Articles 37, 38 and 39 shall constitute the guarantee fund. This fund shall consist of the items listed in Article 36(1), (2) and (3) and, with the agreement of the competent authority of the home Member State, in Article 36(4)(c).

2. The guarantee fund shall not be less than a minimum of EUR 3 000 000. Any Member State may provide that as regards captive reinsurance undertakings, the minimum guarantee fund shall not be not less than EUR 1 000 000.

Official text · the act as published Open full page ↗

Metadata

Not in force

↻ Amendments (1)

21/09/2007 current by Directive 2007/44/EC
10/12/2005 first version in the database