# Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (recast) (Text with EEA relevance), Article 115: Policy for changing the full and partial internal models

Extent: E+W+S+N.I.

As part of the initial approval process of an internal model, the supervisory authorities shall approve the policy for changing the model of the insurance or reinsurance undertaking. Insurance and reinsurance undertakings may change their internal model in accordance with that policy.
The policy shall include a specification of minor and major changes to the internal model.
Major changes to the internal model, as well as changes to that policy, shall always be subject to prior supervisory approval, as laid down in Article 112.
Minor changes to the internal model shall not be subject to prior supervisory approval, insofar as they are developed in accordance with that policy.

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Source: https://www.legislation.gov.uk/eudr/2009/138/article/115 (the official version)
Page: https://openlegislation.uk/eu-directive-2009-138/article-115
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.