(1) The Federal Ministry of Finance is authorised, for insurance undertakings not subject to supervision by the Länder supervisory authorities, to issue, by statutory instrument, provisions on 1. the bookkeeping, content, form, time limit, and number of copies of the internal report to be submitted to the supervisory authority, consisting of a balance sheet structured for supervisory purposes and a profit and loss account structured by insurance branches and insurance classes, together with special explanatory notes on the balance sheet and the profit and loss account, insofar as this is necessary to carry out supervision under this Act; 2. the content, form, time limit, and number of copies of the internal interim report to be submitted quarterly to the supervisory authority, consisting of a compilation of current accounting and portfolio data and of particulars of the number of insured events, insofar as this is necessary to carry out supervision under this Act; 3. the subject matter of the audit under section 35(1), and the content, form, and time limit of the audit reports under section 35(1) and (2), and the content, time limit, and form of the submission of the audit reports to the supervisory authority under section 341k of the Commercial Code, insofar as this is necessary to carry out supervision under this Act, in particular in order to obtain uniform documents for assessing the insurance business conducted by insurance undertakings; 3a. the timing of the examination under section 35(5), and the content, form, and time limit of the report on that examination, insofar as this is necessary for the Federal Institute to perform its tasks; 4. the audit of the annual financial statements and the management report of insurance undertakings to which section 341k of the Commercial Code does not apply, by an independent expert, and on the content and the time limit for submitting an expert's report, insofar as this is necessary to carry out supervision under this Act; 5. the content, form, and number of copies of the solvency and financial condition report to be prepared, and on the time limit for submission to the supervisory authority; 6. the time limits for the transmission of information required to be transmitted under delegated acts pursuant to Article 35(9) and implementing technical standards pursuant to Article 35(10) of Directive 2009/138/EC; and 7. the manner of data transmission, the data formats to be used, the data quality to be observed, and the undertaking identifier to be stated. The Insurance Advisory Council must be consulted before issuance. The authorisation may be transferred to the Federal Institute by statutory instrument. Statutory instruments under the first to third sentences do not require the consent of the Bundesrat. Statutory instruments under the first sentence, points 1, 3, and 4, and under the third sentence, insofar as they cover the authorisations under the first sentence, points 1, 3, and 4, are issued in agreement with the Federal Ministry of Justice and Consumer Protection.
(2) For insurance undertakings subject to supervision by the Länder supervisory authorities, the Land governments may, in agreement with the Federal Institute, issue provisions under subsection (1) by statutory instrument. They may transfer this power to the Land supervisory authority by statutory instrument.
Subdivision 2
Report on solvency and financial condition