ARTICLE 30

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

1 . ANY UNDERTAKING WHICH HAS REQUESTED OR OBTAINED AUTHORIZATION FROM MORE THAN ONE MEMBER STATE MAY APPLY FOR THE FOLLOWING ADVANTAGES WHICH MAY BE GRANTED ONLY JOINTLY : ( A ) THE SOLVENCY MARGIN REFERRED TO IN ARTICLE 29 SHALL BE CALCULATED IN RELATION TO THE ENTIRE BUSINESS WHICH IT CARRIES ON WITHIN THE COMMUNITY ; IN SUCH CASE , ACCOUNT SHALL BE TAKEN ONLY OF THE OPERATIONS EFFECTED BY ALL THE AGENCIES OR BRANCHES ESTABLISHED WITHIN THE COMMUNITY FOR THE PURPOSES OF THIS CALCULATION ; ( B ) THE DEPOSIT REQUIRED UNDER ARTICLE 27 ( 2 ) ( E ) SHALL BE LODGED IN ONLY ONE OF THOSE MEMBER STATES ; ( C ) THE ASSETS REPRESENTING THE GUARANTEE FUND SHALL BE LOCALIZED IN ANY ONE OF THE MEMBER STATES IN WHICH IT CARRIES ON ITS ACTIVITIES . 2 . APPLICATION TO BENEFIT FROM THE ADVANTAGES PROVIDED FOR IN PARAGRPH 1 SHALL BE MADE TO THE COMPETENT AUTHORITIES OF THE MEMBER STATES CONCERNED . THE APPLICATION MUST STATE THE AUTHORITY OF THE MEMBER STATE WHICH IN FUTURE IS TO SUPERVISE THE SOLVENCY OF THE ENTIRE BUSINESS OF THE AGENCIES OR BRANCHES ESTABLISHED WITHIN THE COMMUNITY . REASONS MUST BE GIVEN FOR THE CHOICE OF AUTHORITY MADE BY THE UNDERTAKING . THE DEPOSIT SHALL BE LODGED WITH THAT MEMBER STATE . 3 . THE ADVANTAGES PROVIDED FOR IN PARAGRAPH 1 MAY ONLY BE GRANTED IF THE COMPETENT AUTHORITIES OF ALL MEMBER STATES IN WHICH AN APPLICATION HAS BEEN MADE AGREE TO THEM . THEY SHALL TAKE EFFECT FROM THE TIME WHEN THE SELECTED SUPERVISORY AUTHORITY INFORMS THE OTHER SUPERVISORY AUTHORITIES THAT IT WILL SUPERVISE THE STATE OF SOLVENCY OF THE ENTIRE BUSINESS OF THE AGENCIES OR BRANCHES WITHIN THE COMMUNITY . THE SUPERVISORY AUTHORITY SELECTED SHALL OBTAIN FROM THE OTHER MEMBER STATES THE INFORMATION NECESSARY FOR THE SUPERVISION OF THE OVERALL SOLVENCY OF THE AGENCIES AND BRANCHES ESTABLISHED IN THEIR TERRITORY . 4 . AT THE REQUEST OF ONE OR MORE OF THE MEMBER STATES CONCERNED , THE ADVANTAGES GRANTED UNDER THIS ARTICLE SHALL BE WITHDRAWN SIMULTANEOUSLY BY ALL MEMBER STATES CONCERNED .

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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.