238. Regulation of the Financial Markets Authority (FMA) on the information to be provided for the preparation of the implementation of Solvency II in accordance with the EIOPA guidelines (Preparatory Guidelines Regulation)

Pursuant to Section 130c (5) of the Insurance Supervision Act-VAG, BGBl. No 569/1978, as last amended by the Federal Law BGBl. I No 42/2014, shall be arranged:

Purpose

§ 1. This Regulation shall serve to establish the information to be provided by insurance and reinsurance undertakings in accordance with Article 130c (1) VAG and by competent undertakings at the level of the group in accordance with Article 130c (2) of the VAG, in accordance with the guidelines of the European Insurance and Occupational Pensions Authority (EIOPA) for the provision of information to the competent national authorities, EIOPA-CP-13/010 of 31 December 2002. October 2013.

The subject of the information transfer

§ 2. (1) Insurance and reinsurance undertakings pursuant to Section 130c (1) of the VAG shall have the information pursuant to Section 130c (1) Z 3 of the VAG according to the provisions of the Annex to provide guidelines for the transmission of information to the FMA.

(2) The competent company at the level of the group pursuant to Section 130c (2) of the VAG has the information pursuant to Section 130c (2) Z 3 of the VAG pursuant to the provisions of the Annex to provide guidelines for the transmission of information to the FMA.

(3) Insurance and reinsurance undertakings pursuant to Section 130c (1) of the VAG shall have the report on the preliminary assessment of their own risks in accordance with § 130c (1) Z 2 VAG within two weeks after the decision by the Executive Board or the Board of Directors and the Executive Directors to the FMA.

(4) The competent company at the level of the group according to § 130c paragraph 2 VAG shall have the report on the preliminary assessment of the own risks according to § 130c paragraph 2 Z 2 VAG within two weeks after the decision by the board of directors or the Board of Directors and the Executive Directors to the FMA.

Form of information transmission

§ 3. (1) The transmission of the quantitative information referred to in Part 1, Section III, of the Annex shall be carried out by electronic means, in compliance with the data list laid down by the FMA. In this case, the officially defined data features, including the record build-up, must be taken into consideration.

(2) The information referred to in § 2 (1) and (2) shall be transmitted to the FMA by the Association of Insurance Companies of Austria; this shall not, however, affect the liability of the insurance and reinsurance undertakings in accordance with § 130c Par. 1 VAG and the competent company at the level of the group according to § 130c paragraph 2 VAG for the correctness of the data and the timely submission of the reports. For the professional association of Austrian insurance companies, it is not possible to derive the authorisation of the transfer, processing or any other use of the data.

entry into force

§ 4. This Regulation shall enter into force at the end of the day of its manifestation and shall apply to the following information transfers to the FMA:

1.		Notifications pursuant to section 130c (1) (3) and (2) (2) Z 3 of the VAG concerning the financial year ending on 31 December 2014,
2.		Notifications pursuant to Section 130c (1) (3) and (2) (2) Z 3 of the VAG concerning the quarter ending on 30 September 2015, and
3.		Reports pursuant to Section 130c (1) (2) and (2) (2) (2) of the VAG

Ettl Kumpfmüller