Particular features of the business activity not relating to business organisation

(1) Section 341k of the Commercial Code applies to pension funds; section 36(2) does not apply. Section 1(2), fourth sentence, section 35(2), section 37(2), sections 40 to 42 and 48(2), first sentence, and (2a), sections 52 to 56, 141(5), second sentence, and section 144 do not apply.
(2) The general terms of insurance belong to the scheme of operations as a component under section 9(2), point 2. The approval requirement under section 12(1), first sentence, does not apply to them. Amendments and the introduction of new general terms of insurance take effect only three months after submission to the supervisory authority, unless the supervisory authority establishes their unobjectionable character beforehand.
(3) Pension funds may, with the approval of the supervisory authority, derogate from section 138. In section 141(5), first sentence, points 1 and 2, the principles of the statutory instrument issued under section 235(1), points 4 to 7, take the place of the principles of the statutory instrument issued under section 88(3). The trustee under section 142 must also have sufficient knowledge in the field of occupational retirement provision. Where the pension fund is a smaller association, the appointed actuary must confirm that the conditions of the statutory instrument issued under section 235(1), first sentence, points 8 or 9, are satisfied.
(4) Where the amount of the retirement benefits depends on the performance of an investment fund established in accordance with the scheme of operations, separate accounts must be kept for this investment fund in accordance with sections 67, 101, 120, 135, 148, and 158 of the Capital Investment Code, or in accordance with section 44 of the Investment Act in the version in force until 21 July 2013; section 101(2) of the Capital Investment Code or section 44(2) of the Investment Act in the version in force until 21 July 2013 does not apply.
(5) By way of derogation from section 210(1), first sentence, section 184 also applies where the pension fund is a smaller association. In doing so, the articles of association must specify that the management board is to be appointed by the supervisory board or by the highest organ.
(6) Section 336 applies correspondingly to insurance relationships that took effect before 1 January 2006, insofar as they are based on a scheme of operations approved by the supervisory authority. Section 142 does not apply in these cases.
(7) Where the pension fund's articles of association contain a provision under which insurance claims may be reduced, the articles of association may, in accordance with this subsection, also be amended with effect for existing insurance relationships. A rule may be included providing for the procedure described in the third to sixth sentences for the case where 1. the premium reserve is increased because the actuarial bases must be adjusted on account of an unforeseeable and not merely temporary change in circumstances, and 2. the insurance claims arising from the operation of occupational retirement provision, for which an employer continues to be liable under section 1(1), third sentence, of the Company Pensions Act, account for a share of at least 75 percent of the premium reserve to be increased, and at least two-thirds of that share is attributable to insurance claims for which employers or third parties have declared that they will make available to the pension fund the financial resources necessary for it to be able to finance the increase in the premium reserve fully, at least for these insurance claims. For each insurance claim, the partial claim is determined for which the increase in the premium reserve is not financed from the income of the financial year or from funds under the second sentence, point 2. Insurance claims for which no employer is liable are reduced by the respective partial claim under the third sentence, but by no more than the amount that would result if no funds under the second sentence, point 2, had been committed and the provision named in the first sentence were applied. The remaining insurance claims are reduced by the respective partial claim under the third sentence, insofar as this causes own funds to rise to up to 110 percent of the Solvency Capital Requirement. The reduction of the insurance claims requires the consent of three-quarters of the votes cast by the pension fund's highest representative body and the consent of the supervisory authority.