Any decision to refuse an authorisation shall state full reasons and shall be notified to the undertaking concerned.
Each Member State shall make provision for a right to apply to the courts where an authorisation is refused.
Such provision shall also be made with regard to cases where the supervisory authorities have not dealt with an application for an authorisation within six months or, in cases of joint assessment pursuant to Article 26(4), within eight months of the date of its receipt.
Each refusal of an authorisation, including the identification of the applicant undertaking and the reasons for refusal shall be notified to the European Supervisory Authority (European Insurance and Occupational Pensions Authority) (EIOPA) established by Regulation (EU) No 1094/2010 of the European Parliament and of the Council 11. EIOPA shall keep an updated database with such information and grant access to the database to supervisory authorities.