Preparation Guidelines Regulation

Original Language Title: Vorbereitungsleitlinien-Verordnung

Read the untranslated law here: http://www.ris.bka.gv.at/Dokumente/BgblAuth/BGBLA_2014_II_238/BGBLA_2014_II_238.html

238. Regulation of the financial market authority (FMA) on which to prepare the implementation of Solvency II after the EIOPA guidelines to submit information (preparation guidelines Regulation)

On the basis of § 130c para 5 of the insurance supervision Act - VAG, BGBl. No. 569/1978, as last amended by Federal Law Gazette I no. 42/2014, is prescribed:

Purpose

§ 1. This regulation serves to determine the of of insurance and reinsurance undertakings pursuant to § 130 c para 1 VAG and by company-level group pursuant to § 130 c para 2 VAG to submit information in accordance with the guidelines of the European supervisory authority for the insurance and occupational pensions authority (EIOPA) for the transmission of information to the competent national authorities, EIOPA-CP-13/010 of 31 October 2013.

Subject to the transmission of information

2. (1) insurance and reinsurance companies in accordance with § 130 c para 1 VAG have the information pursuant to § 130 c para 1 No. 3 VAG according to the EIOPA made manifest in the investment guidelines for the transmission of information to the FMA to transmit.

(2) the company responsible at the level of the group according to § 130 c para 2 VAG has the information pursuant to § 130 c para VAG to submit guidelines for the transmission of information to the FMA 2 Z 3 according to the EIOPA made manifest in the plant.

(3) insurance and reinsurance companies in accordance with § 130 c para 1 VAG have the report on pilot looking out assessing of the own risk in accordance with § 130 c par. 1 Z 2 VAG within two weeks following the decision by the Board of directors or the Board of Directors and the managing directors of the FMA to transmit.

(4) the company responsible at the level of the group according to § 130c VAG have 2 report on the pre out looking assessment of own risks pursuant to § 130 c para 2 Z 2 VAG within two weeks following the decision by the Board of directors or the Board of Directors and the managing directors of the FMA to transmit.

Form of information transfer

§ 3 (1) to be 1 section III which has quantitative information pursuant to part in accordance with the list established by the FMA electronically. Here are the officially defined characteristics of data including the data set structure.

(2) the information referred to in article 2, paragraph 1 and 2 are to submit to the FMA by way of the Association of insurance companies of in Austria; This will affect but not the responsibility of the insurance and reinsurance companies according to § 130 c para 1 VAG and the competent company at the level of the group according to § 130 c para 2 VAG for the correctness of the data and the timely submission of messages. No permission transfer to derive processing or other use of the data is for the Association of insurance companies of in Austria.

Entry into force

§ 4. This regulation enters into force at the end of the day of their by-laws and is to apply to the following transfers of information to the FMA:



1. notifications pursuant to § 130c para 1 Nos. 3 and para. 2 No. 3 VAG regarding the fiscal year, which ends on December 31, 2014, 2. messages pursuant to § 130 c para 1 Nos. 3 and para. 2 No. 3 VAG regarding the quarter, which ends on September 30, 2015, and 3 reports in accordance with § 130 c para 1 subpara 2 and para. 2 Z 2 VAG.

Ettl Kumpf Müller