Business activity through a branch or under freedom to provide services

(1) Direct insurance undertakings with their registered office in another member state or contracting state, with the exception of the undertakings named in sections 65 and 66, may conduct insurance business domestically through a branch or under freedom to provide services only in accordance with subsections (2) to (4). Section 57(2) to (4) applies mutatis mutandis.
(2) Where the undertaking intends to carry on its activity through a branch, the supervisory authority of the home member state must transmit to the Federal Institute the particulars named in Article 145(2) and (3) of Directive 2009/138/EC, notifying the undertaking of this. Commencement of the branch's business activity is not permitted until two months have elapsed since receipt of this notification. This applies only where the Federal Institute does not inform the undertaking of an earlier date. The undertaking must notify the Federal Institute and the supervisory authority of its registered office of any changes to the content of the particulars named in Article 145(2), letters b, c, or d, of Directive 2009/138/EC, one month before the intended implementation of the change. Where this involves expansions of the business activity, these are not permitted until one month has elapsed since receipt of the undertaking's notification by the Federal Institute.
(3) Commencement or change of the undertaking's activity under freedom to provide services is not permitted until the supervisory authority of the home member state has transmitted the particulars named in Article 148(1) and (2) of Directive 2009/138/EC to the Federal Institute and has informed the undertaking of this.
(4) Conducting health insurance within the meaning of section 146(1) in the cases named in subsections (2) and (3) is not permitted until the undertaking has submitted the general insurance conditions to the Federal Institute.
(5) The Federal Institute continuously informs the supervisory authorities of the other member states or contracting states of such legal provisions that insurance undertakings with their registered office in those states must observe when carrying on a business activity under subsection (1), and compliance with which is monitored in the exercise of supervision other than financial supervision. Provisions not made known under the first sentence are notified by the Federal Institute to the supervisory authorities of the home member states within two months of receipt of the particulars named in subsection (2) or (3).