(16)The competent authorities of the Member States should have at their disposal such means of supervision as are necessary to ensure the orderly pursuit of business by reinsurance undertakings throughout the Community whether carried on under the right of establishment or the freedom to provide services. In particular, they should be able to introduce appropriate safeguards or impose penalties aimed at preventing irregularities and infringements of the provisions on reinsurance supervision.
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New version applies from 01/07/2013 — introduced by Council Directive 2013/23/EU.
46 provisions change.
Recital 16 changes in this version: compare with the current text.