Conditions
The home Member State shall require every reinsurance undertaking for which authorisation is sought to:
(a)
limit its objects to the business of reinsurance and related operations; this requirement may include a holding company function and activities with respect to financial sector activities within the meaning of Article 2, point (8), of Directive 2002/87/EC;
(b)
submit a scheme of operations in accordance with Article 11;
(c)
possess the minimum guarantee fund provided for in Article 40(2);
(d)
be effectively run by persons of good repute with appropriate professional qualifications or experience.