Special powers under Regulation (EU) 2022/2554

(1) In the event of breaches of Regulation (EU) 2022/2554, the supervisory authority may, without prejudice to other powers governed in this Act, make orders in an individual case that are suitable and necessary to ensure compliance with the requirements of Regulation (EU) 2022/2554 within the scope of this Act. In particular, it may order an insurance undertaking 1. to refrain from conduct that breaches this Regulation, and to desist from repeating it, 2. to discontinue, temporarily or permanently, and not to repeat, practices or conduct that are contrary to the provisions of the Regulation, 3. to ensure that the legal requirements continue to be satisfied, and 4. to take corrective and remedial measures.
(2) The supervisory authority may conduct investigations into compliance with the requirements of Regulation (EU) 2022/2554 within the scope of this Act. Without prejudice to other powers governed in this Act, the supervisory authority may, for this purpose, summon members of the governing bodies of an insurance undertaking to questioning, so that they may give oral or written statements on facts or documents connected with the subject-matter and purpose of the investigation, and may record the oral statements. Section 305(5) applies correspondingly.