Reporting duties for the purpose of financial stability; power to issue a statutory instrument

(1) The supervisory authority may require information from supervised undertakings and supervised groups 1. that it needs to perform its tasks under section 294(2), third and fourth sentences, or 2. that it must make available to the European Insurance and Occupational Pensions Authority under Article 35 of Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC (OJ L 331, 15.12.2010, p. 48), as amended by Directive 2014/51/EU (OJ L 153, 22.5.2014, p. 1).
(2) The Federal Ministry of Finance is authorised, for supervised undertakings and supervised groups not subject to supervision by the Länder supervisory authorities, to issue, by statutory instrument, provisions establishing reporting duties under subsection (1) and specifying the content and form of the information to be transmitted, and the time limit for submission to the Federal Institute. The authorisation may be transferred to the Federal Institute by statutory instrument. Statutory instruments under the first and second sentences do not require the consent of the Bundesrat.