art_20__para_3

3. Subject to paragraph 2, resolution authorities may take resolution action with regard to any of the entities referred to in Article 1(1), points (c) to (e), even where those entities do not meet the conditions laid down in paragraph 1 of this Article, where all of the following conditions apply: one or more of the subsidiary insurance or reinsurance undertakings meet the conditions established in Article 19(1); the assets and liabilities of the subsidiary insurance or reinsurance undertakings are such that their failure threatens another insurance or reinsurance undertaking of the group or the group as a whole, or the insolvency law of the Member State requires that groups be treated as a whole; resolution action with regard to the entities referred to in Article 1(1), points (c) to (e), is necessary for the resolution of the subsidiary insurance or reinsurance undertakings or for the resolution of the group as a whole.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-14 · Text as adopted (Official Journal); later amendments are not incorporated in this text.