Power to issue a statutory instrument

(1) The Federal Ministry of Finance may determine, by statutory instrument, further details regarding 1. the fixed-income investments and interest-rate hedging transactions to be included in the process under section 139(3); 2. the determination of the applicable euro interest rate swap rate under section 139(4), first sentence; 3. the method for valuing the interest rate obligation of an insurance contract under section 139(4), second sentence.
(2) The Federal Ministry of Finance is authorised, in order to safeguard the interests of the insured, having regard to market conditions and the solvency needs of life insurance undertakings, to issue, by statutory instrument, provisions relating to section 140(2) on the allocation to the provision for premium refunds, in particular on the minimum allocation depending on investment income, the risk result, and other results. In doing so, it must be regulated whether and to what extent negative income and results may be offset against positive income and results. For insurance relationships based on approved schemes of operations, the minimum allocation must be determined separately. Where a collective portion of the provision for premium refunds within the meaning of section 140(4) is established, the minimum allocation must also be determined separately for that portion.
(3) The Federal Ministry of Finance is authorised to determine, by statutory instrument, a maximum amount for the unallocated portion of the provision for premium refunds.
(4) The Federal Ministry of Finance is authorised to determine, by statutory instrument, the wording of the actuarial confirmation, and further details on the content, scope, and submission deadline of the explanatory report under section 141(5), first sentence, point 2, and further details on the content, scope, and submission deadline of the report under section 141(5), first sentence, point 4.
(5) The authorisations in subsections (1) to (4) may be transferred to the Federal Institute by statutory instrument. Statutory instruments under subsections (1) to (4) and the first sentence do not require the consent of the Bundesrat.
(6) The Federal Ministry of Finance is authorised, by statutory instrument with the consent of the Bundesrat, in order to safeguard the interests of the insured, to regulate further details on the design of the collective portions of the provision for premium refunds, in particular to determine limits on the collective portions and rules on allocations to, and transfers back from, the collective portions to the non-collective portions of the provision for premium refunds. The Federal Ministry of Finance may transfer the authorisation to the Federal Institute by statutory instrument with the consent of the Bundesrat. The Federal Institute issues the statutory instrument without the consent of the Bundesrat, in agreement with the supervisory authorities of the Länder.