http://www.legislation.gov.uk/uksi/2015/575/regulation/49/madeThe Solvency 2 Regulations 2015enKing's Printer of Acts of Parliament2016-09-14FINANCIAL SERVICES AND MARKETSThe Regulations implement in part Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of insurance and reinsurance (Solvency II) (OJ L335, 17.12.2009, p.1) (the “Solvency 2 Directive”). The remainder of the Solvency 2 Directive is implemented by the Financial Services and Markets Act 2000 (c. 8) (“FSMA”), rules and individually binding requirement imposed by the Prudential Regulation Authority (“PRA”) and the Financial Conduct Authority (“FCA”) under FSMA and a directly applicable regulation made by the European Commission.PART 4ApprovalsCHAPTER 2Specific Approvals49Group applications1

An insurance undertaking or reinsurance undertaking may make a group application to the PRA where the PRA is the group supervisor for the group to which the undertaking belongs.

2

Where the PRA receives a group application, it may grant the approval in accordance with the procedure specified in Schedule 5.

3

Where the PRA grants an approval under paragraph (2), the approval may include conditions to which the approval is subject.

4

The PRA may revoke an approval granted under paragraph (2).

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<p>An insurance undertaking or reinsurance undertaking may make a group application to the PRA where the PRA is the group supervisor for the group to which the undertaking belongs.</p>
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Where the PRA grants an approval under paragraph
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The PRA may revoke an approval granted under paragraph
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