1. 3. In the event of non-compliance with the MinimumSolvency Capital Requirement and without prejudice to Article 139,138, the supervisory authority having authorised the subsidiary shall, without delay, forward to the college of supervisors the short-termrecovery finance schemeplan submitted by the subsidiary in order to achieve, within threesix months from the dateobservation on whichof non-compliance with the MinimumSolvency Capital Requirement was first observed,Requirement, the reestablishment of the level of eligible own funds covering the Minimum Capital Requirement or the reduction of its risk profile to ensure compliance with the MinimumSolvency Capital Requirement. The college of supervisors shall also be informed of any measures taken to enforce the Minimum Capital Requirement at the level of the subsidiary.
The college of supervisors shall do everything within its power to reach an agreement on the proposal of the supervisory authority regarding the approval of the recovery plan within four months from the date on which non-compliance with the Solvency Capital Requirement was first observed.
In the absence of such agreement, the supervisory authority having authorised the subsidiary shall decide whether the recovery plan should be approved, taking due account of the views and reservations of the other supervisory authorities within the college of supervisors.
2. 2. Where the supervisory authority having authorised the subsidiary identifies, in accordance with Article 136, deteriorating financial conditions, it shall notify the college of supervisors without delay of the proposed measures to be taken. Save in emergency situations, the measures to be taken shall be discussed within the college of supervisors. The college of supervisors shall do everything within its power to reach an agreement on the proposed measures to be taken within one month of notification. In the absence of such agreement, the supervisory authority having authorised the subsidiary shall decide whether the proposed measures should be approved, taking due account of the views and reservations of the other supervisory authorities within the college of supervisors.
The college of supervisors shall do everything within its power to reach an agreement on the proposed measures to be taken within one month of notification.
In the absence of such agreement, the supervisory authority having authorised the subsidiary shall decide whether the proposed measures should be approved, taking due account of the views and reservations of the other supervisory authorities within the college of supervisors.
3. 1. In the event of non-compliance with the SolvencyMinimum Capital Requirement and without prejudice to Article 138,139, the supervisory authority having authorised the subsidiary shall, without delay, forward to the college of supervisors the recoveryshort-term planfinance scheme submitted by the subsidiary in order to achieve, within sixthree months from the observationdate ofon which non-compliance with the SolvencyMinimum Capital Requirement,Requirement was first observed, the reestablishment of the level of eligible own funds covering the Minimum Capital Requirement or the reduction of its risk profile to ensure compliance with the SolvencyMinimum Capital Requirement. The college of supervisors shall doalso everythingbe withininformed itsof powerany measures taken to reach an agreement onenforce the proposalMinimum Capital Requirement at the level of the supervisory authority regarding the approval of the recovery plan within four months from the date on which non-compliance with the Solvency Capital Requirement was first observed. In the absence of such agreement, the supervisory authority having authorised the subsidiary shall decide whether the recovery plan should be approved, taking due account of the views and reservations of the other supervisory authorities within the college of supervisors.subsidiary.