ARTICLE 31

1 . ( A ) SUBJECT TO POINT ( B ) , AGENCIES AND BRANCHES REFERRED TO IN THIS TITLE MAY NOT SIMULTANEOUSLY CARRY ON IN A MEMBER STATE THE ACTIVITIES REFERRED TO IN THE ANNEX TO THE FIRST COORDINATION DIRECTIVE ( NON-LIFE INSURANCE ) AND THOSE COVERED BY THIS DIRECTIVE . ( B ) SUBJECT TO POINT ( C ) , MEMBER STATES MAY PROVIDE THAT AGENCIES AND BRANCHES REFERRED TO IN THIS TITLE WHICH AT THE TIME OF NOTIFICATION OF THIS DIRECTIVE CARRY ON BOTH ACTIVITIES SIMULTANEOUSLY IN A MEMBER STATE MAY CONTINUE TO DO SO THERE PROVIDED THAT EACH ACTIVITY IS SEPARATELY MANAGED IN ACCORDANCE WITH ARTICLE 14 . ( C ) ANY MEMBER STATE WHICH UNDER ARTICLE 13 ( 6 ) ( A ) AND ( B ) REQUIRES UNDERTAKINGS ESTABLISHED IN ITS TERRITORY TO CEASE THE SIMULTANEOUS PURSUIT OF THE ACTIVITIES IN WHICH THEY ARE ENGAGED AT THE TIME OF NOTIFICATION OF THIS DIRECTIVE MUST ALSO IMPOSE THIS REQUIREMENT ON AGENCIES AND BRANCHES REFERRED TO IN THIS TITLE WHICH ARE ESTABLISHED IN ITS TERRITORY AND SIMULTANEOUSLY CARRY ON BOTH ACTIVITIES THERE . ( D ) MEMBER STATES MAY PROVIDE THAT AGENCIES AND BRANCHES REFERRED TO IN THIS TITLE WHOSE HEAD OFFICE SIMULTANEOUSLY CARRIES ON BOTH ACTIVITIES AND WHICH AT THE TIME OF NOTIFICATION OF THIS DIRECTIVE CARRY ON IN THE TERRITORY OF A MEMBER STATE SOLELY THE ACTIVITY COVERED BY THIS DIRECTIVE MAY CONTINUE THEIR ACTIVITY THERE . IF THE UNDERTAKING WISHES TO CARRY ON THE ACTIVITY REFERRED TO IN THE FIRST COORDINATION DIRECTIVE ( NON-LIFE INSURANCE ) IN THAT TERRITORY IT MAY ONLY CARRY ON THE ACTIVITY COVERED BY THIS DIRECTIVE THROUGH A SUBSIDIARY . 2 . ARTICLES 23 AND 24 SHALL APPLY MUTATIS MUTANDIS TO AGENCIES AND BRANCHES REFERRED TO IN THIS TITLE . FOR THE PURPOSES OF APPLYING ARTICLE 24 , THE SUPERVISORY AUTHORITY WHICH SUPERVISES THE OVERALL SOLVENCY OF AGENCIES OR BRANCHES SHALL BE TREATED IN THE SAME WAY AS THE SUPERVISORY AUTHORITY OF THE HEAD-OFFICE MEMBER STATE . 3 . IN THE CASE OF A WITHDRAWAL OF AUTHORIZATION BY THE AUTHORITY REFERRED TO IN ARTICLE 30 ( 2 ) , THIS AUTHORITY SHALL NOTIFY THE SUPERVISORY AUTHORITIES OF THE OTHER MEMBER STATES WHERE THE UNDERTAKING OPERATES AND THE LATTER AUTHORITIES SHALL TAKE THE APPROPRIATE MEASURES . IF THE REASON FOR THE WITHDRAWAL OF AUTHORIZATION IS THE INADEQUACY OF THE SOLVENCY MARGIN CALCULATED IN ACCORDANCE WITH ARTICLE 30 ( 1 ) ( A ) , THE SUPERVISORY AUTHORITIES OF THE OTHER MEMBER STATES CONCERNED SHALL ALSO WITHDRAW THEIR AUTHORIZATIONS .

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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.