{
  "url": "https://openlegislation.uk/draft-financial-services-miscellaneous-amendment-eu-exit-regulations-2019/regulation-41",
  "json_url": "https://openlegislation.uk/draft-financial-services-miscellaneous-amendment-eu-exit-regulations-2019/regulation-41.json",
  "legislation": "ukdsi/2019/9780111182116",
  "legislation_title": "The Financial Services (Miscellaneous) (Amendment) (EU Exit) Regulations 2019",
  "legislation_url": "https://openlegislation.uk/draft-financial-services-miscellaneous-amendment-eu-exit-regulations-2019",
  "path": "regulation/41",
  "kind": "regulation",
  "number": "41",
  "heading": "Transitional provision: group supervision",
  "text": "After regulation 12 of the Solvency 2 and Insurance (Amendments etc.) (EU Exit) Regulations 2019, insert—\n“Transitional provision in relation to group supervision\n13. (1) This regulation applies where—\n(a) in accordance with regulation 26 of the Solvency 2 Regulations 2015 (as amended by these Regulations), the Prudential Regulation Authority (“PRA”) is the group supervisor of a group; but\n(b) in accordance with regulations 26 and 27 of the Solvency 2 Regulations 2015 (as they were in force immediately before exit day), the group supervisor would be a supervisory authority of an EEA State, which is not the PRA.\n(2) Where this regulation applies, regulations 15(1), 24(1) and (2), 25, 28(2) and 36(4) of the Solvency 2 Regulations 2015 which impose requirements on the PRA as group supervisor do not apply for a period of two years beginning with exit day—\n(a) unless the PRA decides that it is appropriate for these regulations to be applied in a particular case; or\n(b) unless or until the group ceases to be supervised by a group supervisor of an EEA State.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "S.I. 2019/****."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "S.I. 2015/575."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2019/9780111182116/regulation/41",
    "retrieved_at": "2026-10-30T15:00:15.988845+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}