Powers to issue statutory instruments on financial supervision

(1) The Federal Ministry of Finance is authorised to issue, by statutory instrument, provisions for pension funds 1. on the calculation and level of the Solvency Capital Requirement; 2. on the relevant minimum amount of the Minimum Capital Requirement and on its calculation; 3. on how own funds not shown in the balance sheet are calculated, and to what extent they may be counted towards the Solvency Capital Requirement and the Minimum Capital Requirement; 4. on one or more maximum values for the actuarial interest rate for insurance contracts with an interest rate guarantee; 5. on further requirements for determining the discount rates under section 341f(2) of the Commercial Code; 6. on the maximum amounts for zillmerisation; 7. on the actuarial bases and the valuation approaches for the premium reserve; 8. on how, at pension funds where both employees and employers are contractually obliged to pay premiums, for life insurance contracts not based on an approved scheme of operations, the portion of the excess investment income attributable to the employees is to be determined, and what participation of the employees in that income is appropriate within the meaning of section 140(2); 9. on the actuarial methods for calculating the premiums, including premium changes, and the technical provisions within the meaning of sections 341e to 341h of the Commercial Code, in particular the premium reserve, at pension funds with collective financing systems for life insurance contracts not based on an approved scheme of operations, in particular on how the relevant assumptions on mortality, the age and gender dependency of the risk, and the probability of lapse, the assumptions on the composition of the existing portfolio and new business, the interest rate including the level of the security loadings, and the principles for determining the other loadings, are to be taken into account; 10. on qualitative and quantitative investment principles for the tied assets, supplementing section 124(1), first and second sentences, point 1, letter a, and points 2, 3, and 5 to 8, and section 234h(1) to (3), in order to ensure the matching and the continuous ability to meet the respective scheme of operations, having regard to the forms of investment under section 215(2), first sentence, points 1 to 7, and further forms of investment permitted by this regulation, and the determinations in the scheme of operations regarding the investment risk and who bears that risk, and on restrictions on investments with the sponsoring undertaking; 11. on the content of the audit reports under section 35(1), insofar as necessary for the supervisory authority to perform its tasks, in particular to obtain uniform documents for assessing the insurance business conducted by the pension funds; 12. on the content, form, and number of copies of the solvency balance sheet and the report on capital investments to be prepared under section 234g(4), and the deadline for submission to the supervisory authority; and 13. on the manner of data transmission, the data formats to be used, and the data quality to be maintained.
(2) The authorisation may be transferred to the Federal Institute by statutory instrument. Statutory instruments under subsection (1), first sentence, and under the first sentence do not require the consent of the Bundesrat. Statutory instruments under subsection (1), first sentence, points 9 and 11, and under the first sentence, insofar as they cover the authorisation under subsection (1), first sentence, points 9 and 11, are issued in agreement with the Federal Ministry of Justice and Consumer Protection.