1. NotwithstandingWhere any of the measures referred to in Articles 136a, 138 and 139,139 whereare considered by the supervisory authorities to be ineffective or insufficient to address the deterioration of the solvency position of the undertaking continues to deteriorate,undertaking, the supervisory authorities shall have the power to take all measures which are necessary to safeguard the interests of policy holders in the case of insurance contracts, or the obligations arising out of reinsurance contracts.
2. Those measures shall be proportionate and thus reflect the level and duration of the deterioration of the solvency position of the insurance or reinsurance undertaking concerned.