(59)

in Article 239, the following paragraph is added: ‘4. The supervisory authority or the group supervisor may refer the matter to EIOPA and request its assistance in accordance with Article 19 of Regulation (EU) No 1094/2010 where they disagree regarding either of the following: (a) on the approval of the recovery plan, including any extension of the recovery period, within the four-month period referred to in paragraph 1; or (b) on the approval of the proposed measures, within the one-month period referred to in paragraph 2. In those cases, EIOPA may act in accordance with the powers conferred to it by that Article, and shall take its decision within one month of such referral. The matter shall not be referred to EIOPA: (a) after the end of the four-month or the one-month period respectively referred to in the first subparagraph; (b) after an agreement has been reached within the college in accordance with the second subparagraph of paragraph 1 or the second subparagraph of paragraph 2; (c) in the case of emergency situations as referred to in paragraph 2. The four-month or the one-month period respectively shall be deemed the conciliation period within the meaning of Article 19(2) of that Regulation. The supervisory authority having authorised that subsidiary shall defer its decision and await any decision that EIOPA may take in accordance with Article 19(3) of that regulation, and shall take its final decision in conformity with EIOPA's decision. That decision shall be recognised as determinative and shall be applied by the supervisory authorities concerned. The decision shall state the full reasons on which it is based. The decision shall be submitted to the subsidiary and to the college of supervisors.’;

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Source: EUR-Lex (Cellar) · retrieved 2026-10-20 · Text as adopted (Official Journal); later amendments are not incorporated in this text.