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Recital 26

Recital 26

(26)For the purposes of the application for supervisory approval to use the matching adjustment referred to in paragraph 1 of Article 77b of Directive 2009/138/EC, undertakings should be permitted to consider different eligible insurance products as one portfolio, provided that the conditions for approval are met on a continuous basis and there are no legal impediments to the business being organised and managed separately from the rest of the business of the undertaking in one portfolio.

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