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SCHEDULE 4 U.K. Procedure for an application for a subsidiary to be subject to national law implementing Articles 238 and 239 of the Solvency 2 Directive

3.  In Flowchart 2— U.K.

(a) “college” means the college of supervisory authorities;

(b) “relevant date” means the date falling immediately after the period of three months beginning with the date on which the complete application was received by the supervisory authority to which the application was made; and

(c) a reference to the panel's proposal being rejected is a reference to a proposal by EIOPA's panel being rejected in accordance with Articles 41(2) and (3), and 44(1), of the EIOPA Regulation.