The provisions of sections 269 and 270 apply to every insurance undertaking that is a subsidiary undertaking of an insurance undertaking, where 1. the subsidiary undertaking is included in group supervision at the level of the parent undertaking, 2. the parent undertaking's risk management and internal control mechanisms cover the subsidiary undertaking, and the parent undertaking has convinced the affected supervisory authorities of the prudent management of the subsidiary undertaking, 3. the parent undertaking has obtained the consent under section 275(4), 4. the parent undertaking has obtained the consent under section 277(2), and 5. the parent undertaking has applied to make use of the provisions of sections 269 and 270, and this application has been approved under section 268.