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Part 2 · Provisions for direct insurance and reinsurance  ›  Division 2 · Qualifying holdings › Section 21

Cooperation with the competent authorities in other member states or contracting states

(1) In assessing the acquisition, the supervisory authority cooperates closely with the competent authorities in the other member states or contracting states where the person subject to the notification duty is 1. a CRR credit institution, an e-money institution, or a securities institution, an insurance undertaking, or a management company within the meaning of Article 2(1)(b) of Directive 2009/65/EC, authorised in another member state or another sector than the one in which the acquisition is intended, 2. a parent undertaking of a CRR credit institution, an e-money institution, or a securities institution, an insurance undertaking, or a management company within the meaning of Article 2(1)(b) of Directive 2009/65/EC, authorised in another member state or another sector than the one in which the acquisition is intended, or 3. a natural or legal person controlling a CRR credit institution, an e-money institution, or a securities institution, an insurance undertaking, or a management company within the meaning of Article 2(1)(b) of Directive 2009/65/EC, authorised in another member state or another sector than the one in which the acquisition is intended.
(2) The competent authorities exchange with one another, without delay, the information material or relevant to the assessment. In doing so, the competent authorities communicate to one another, upon request, all relevant information, and transmit of their own motion all material information. All remarks or reservations of the authority responsible for the interested acquirer must be noted in the decision of the competent authority that authorised the insurance undertaking in which the acquisition is intended.

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