PART 2Amendment of Commission Delegated Regulation (EU) 2015/35

Amendment of Commission Delegated Regulation (EU) 2015/35I12

1

Commission Delegated Regulation (EU) 2015/35 of 10 October 2014 supplementing Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of insurance and reinsurance is amended as follows.

2

In Article 1 (definitions) M1, after paragraph 58 insert—

58A

‘PRA’ means the Prudential Regulation Authority;

3

In Article 257 (requirements for investments in securitisations that no longer comply with the risk-retention and qualitative requirements) M2—

a

in paragraphs 1 and 2, for “supervisory authority” substitute “ PRA ”; and

b

in paragraph 5 for “undertaking's system of governance as referred to in Article 37(1)(c)” substitute “ standards of governance laid down in Title 1, Chapter IV, Section 2 ”.