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Article 6 - Revocation of approval by the supervisory authority

Article 6
Revocation of approval by the supervisory authority

The supervisory authority may revoke its approval granted to an insurance or reinsurance to use the USP method, when

((a))

an undertaking which has been granted approval to use undertaking-specific parameters has ceased to comply with the conditions set out in Article 101 of Directive 2009/138/EC and Articles 218, 219 and 220 of Commission Delegated Regulation (EU) 2015/35;

((b))

in duly justified circumstances, an insurance or reinsurance undertaking wishes to revert to the standard parameters, by sending a request to the supervisory authority, stating the reasons for the inappropriateness of the USP and providing documentary evidence for this.

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