TITLE IIICONDITIONS GOVERNING THE BUSINESS OF ASSURANCE

CHAPTER 3RULES RELATING TO THE SOLVENCY MARGIN AND TO THE GUARANTEE FUND

Article 30Review of the amount of the guarantee fund

1.

The amount in euro as laid down in Article 29(2) shall be reviewed annually starting on 20 September 2003, in order to take account of changes in the European index of consumer prices comprising all Member States as published by Eurostat.

The amount shall be adapted automatically, by increasing the base amount in euro by the percentage change in that index over the period between 20 March 2002 and the review date and rounded up to a multiple of EUR 100 000.

If the percentage change since the last adaptation is less than 5 %, no adaptation shall take place.

2.

The Commission shall inform annually the European Parliament and the Council of the review and the adapted amount referred to in paragraph 1.