Determination of the group supervisory authority

(1) Where applying the criteria named in section 279(2) would be inappropriate on account of the group's structure and the relative significance of the insurance undertaking's business in the various member or contracting states, the affected supervisory authorities may, in special cases, jointly designate a different supervisory authority as the group supervisory authority. The group supervisory authority should not be designated more than once a year.
(2) The designation under subsection (1) is made on the application of one of the affected supervisory authorities, after consulting the affected group, by agreement of all affected supervisory authorities, within three months of the application being made. The affected supervisory authorities, within the scope of their powers, do everything to reach a joint decision on the group supervisory authority within three months of the application being made. Before their decision, the affected supervisory authorities give the group an opportunity to comment. The designated group supervisory authority issues the group a decision on the joint decision.
(3) Where, before expiry of the three-month period named in subsection (2), one of the affected supervisory authorities has referred the matter to the European Insurance and Occupational Pensions Authority under Article 19 of Regulation (EU) No 1094/2010, the procedure is suspended until the European Insurance and Occupational Pensions Authority decides under Article 19(3) of the Regulation. The affected supervisory authorities take their decision jointly, in accordance with the decision of the European Insurance and Occupational Pensions Authority. The joint decision is recognised and implemented by the affected supervisory authorities as binding. The designated group supervisory authority issues the group a decision on the joint decision and informs the college of supervisors.
(4) The European Insurance and Occupational Pensions Authority is not referred the matter after expiry of the three-month period, or after agreement is reached on a joint decision.
(5) Where no joint decision is reached under subsection (2) or (3), the function of group supervisory authority is performed by the supervisory authority determined under section 279(2).