Cooperation in group supervision

(1) The supervisory authorities competent for supervising the insurance undertakings of a group, and the group supervisory authority, cooperate closely, in particular in cases where an insurance undertaking is in financial difficulty. Where an insurance undertaking is directly or indirectly related to a credit institution or an investment firm, or these undertakings have a common participating undertaking, the supervisory authorities within the meaning of the first sentence and the authorities competent for supervising these other undertakings cooperate closely.
(2) The supervisory authorities transmit to one another, without delay, all information that facilitates the fulfilment of their supervisory duties within the framework of Directive 2009/138/EC. The group supervisory authority transmits to the affected supervisory authorities and to the European Insurance and Occupational Pensions Authority all information under section 11(2), sections 40, 47, point 6, and section 282(2) concerning the group, in particular concerning the group's legal, governance, and organisational structure.
(3) Where a supervisory authority has not transmitted relevant information, has refused a request for cooperation, or has not responded within two weeks, the affected supervisory authorities may refer the matter to the European Insurance and Occupational Pensions Authority.
(4) Where a participating undertaking has notified the group supervisory authority, under section 250(4), that the group's Solvency Capital Requirement is no longer covered, or that there is a risk of this occurring within the next three months, the group supervisory authority informs the other supervisory authorities of the college of supervisors.
(5) Where exceptional circumstances arise, or have already arisen, the supervisory authority, whether as the supervisory authority competent for supervising an individual insurance undertaking of a group or as the group supervisory authority, convenes without delay a meeting of all supervisory authorities within the meaning of subsection (1), first sentence, in particular where it finds 1. a material breach of the Solvency Capital Requirement, or a breach of the Minimum Capital Requirement, of an insurance undertaking, or 2. a material breach of the group's Solvency Capital Requirement.