Competence within the meaning of Regulation (EU) 2019/1238

(1) The Bundesanstalt is the competent authority within the meaning of Article 2, point 18 of Regulation (EU) 2019/1238 of the European Parliament and of the Council of 20 June 2019 on a pan-European Personal Pension Product (PEPP) (OJ L 198, 25.7.2019, p. 1), as amended from time to time, under the provisions of this Act, insofar as section 295(1), no. 7 of the Insurance Supervision Act, section 6(1f) of the Banking Act, or section 5(13) of the Capital Investment Code does not apply.
(2) An objection and an action for rescission against measures and decisions of the Bundesanstalt under Article 6(4), Article 8(1) and Article 63 of Regulation (EC) 2019/1238 have no suspensive effect.