TITLE VIISUBSIDIARIES OF PARENT UNDERTAKINGS GOVERNED BY THE LAWS OF A THIRD COUNTRY AND ACQUISITIONS OF HOLDINGS BY SUCH PARENT UNDERTAKINGS
Article 51Information from Member States to the Commission
The competent authorities of the Member States shall inform the Commission and the competent authorities of the other Member States:
- (a)
of any authorisation of a direct or indirect subsidiary, one or more parent undertakings of which are governed by the laws of a third country;
- (b)
whenever such a parent undertaking acquires a holding in a Community reinsurance undertaking which would turn the latter into its subsidiary.
When an authorisation as referred to in point (a) is granted to the direct or indirect subsidiary of one or more parent undertakings governed by the laws of a third country, the structure of the group shall be specified in the notification which the competent authorities shall address to the Commission.