Tasks and powers of the group supervisory authority

(1) The tasks and powers of the group supervisory authority include 1. reviewing and assessing the group's financial position, 2. assessing compliance with the provisions on group solvency, on risk concentrations, and on intra-group transactions, 3. supervisory review of the risk management system, the internal control system, and the reporting system named in section 275, 4. assessing the business organisation and the qualification of the managers of participating undertakings under sections 275, 24, and 293, 5. supervisory review of the own risk and solvency assessment carried out at group level under section 27, 6. coordinating the exchange of information between the affected supervisory authorities within the framework of ongoing supervision and in crisis situations, in respect of information that is relevant, necessary, and important for fulfilling supervisory duties, 7. planning and coordinating supervisory activities in ongoing supervision and in crisis situations, in cooperation with the affected supervisory authorities, carried out in the form of meetings held at least once a year or in another appropriate manner, 8. taking the lead in validating internal models or partial internal models at group level, 9. taking the lead in deciding on the application to apply the provisions on centralised risk management, and 10. chairing the college of supervisors.
(2) Sections 43, 44, and 305 apply correspondingly to information the group supervisory authority needs to perform its tasks. Where the group supervisory authority needs the information named in section 305(1), point 1, and this has already been provided to another supervisory authority, the group supervisory authority, as far as possible, approaches the other supervisory authority in order to avoid multiple transmission.
(3) Where the group supervisory authority does not perform the tasks named in subsection (1), or the members of the college of supervisors do not cooperate to the extent required under subsection (1), the supervisory authority may refer the matter to the European Insurance and Occupational Pensions Authority under Article 19 of Regulation (EU) No 1094/2010 and request its assistance.