ARTICLE 12

First Council Directive 79/267/EEC of 5 March 1979 on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of direct life assurance · European Union

ANY DECISION TO REFUSE AN AUTHORIZATION SHALL BE ACCOMPANIED BY THE PRECISE GROUNDS FOR DOING SO AND NOTIFIED TO THE UNDERTAKING IN QUESTION . EACH MEMBER STATE SHALL MAKE PROVISION FOR A RIGHT TO APPLY TO THE COURTS SHOULD THERE BE ANY REFUSAL . SUCH PROVISION SHALL ALSO BE MADE WITH REGARD TO CASES WHERE THE COMPETENT AUTHORITIES HAVE NOT DEALT WITH AN APPLICATION FOR AN AUTHORIZATION UPON THE EXPIRY OF A PERIOD OF SIX MONTHS FROM THE DATE OF ITS RECEIPT .

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Source: EUR-Lex (Cellar) · retrieved 2026-10-29 · Text as adopted (Official Journal); later amendments are not incorporated in this text.