Exemption from reporting at group level

(1) Where the intervals for regular supervisory reporting are shorter than one year, the group supervisory authority may limit the frequency of reporting at group level, provided all insurance undertakings of the group benefit from this limitation under section 45(1), having regard to the nature, scale, and complexity of the risks connected with the group's business activities.
(2) The group supervisory authority may exempt from item-by-item reporting at group level, provided all insurance undertakings of the group benefit from the exemption under section 45(2), having regard to the nature, scale, and complexity of the risks connected with the group's business activities, and to the objective of financial stability.