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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

A 4 % FRACTION OF THE MATHEMATICAL RESERVES , CALCULATED IN COMPLIANCE WITH THE CONDITIONS SET OUT IN THE FIRST RESULT IN ( A ) OF THIS ARTICLE IN SO FAR AS THE UNDERTAKING BEARS AN INVESTMENT RISK , AND A 1 % FRACTION OF THE RESERVES CALCULATED IN THE FASHION , IN SO FAR AS THE UNDERTAKING BEARS NO INVESTMENT RISK PROVIDED THAT THE TERM OF THE CONTRACT EXCEEDS FIVE YEARS AND THE ALLOCATION TO COVER MANAGEMENT EXPENSES SET OUT IN THE CONTRACT IS FIXED FOR A PERIOD EXCEEDING FIVE YEARS

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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.