# 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 94: Main criteria for the classification into tiers

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

1. Basic own-fund items shall be classified in Tier 1 where they substantially possess the characteristics set out in Article 93(1)(a) and (b), taking into consideration the features set out in Article 93(2).
2. Basic own-fund items shall be classified in Tier 2 where they substantially possess the characteristic set out in Article 93(1)(b), taking into consideration the features set out in Article 93(2).
Ancillary own-fund items shall be classified in Tier 2 where they substantially possess the characteristics set out in Article 93(1)(a) and (b), taking into consideration the features set out in Article 93(2).
3. Any basic and ancillary own-fund items which do not fall under paragraphs 1 and 2 shall be classified in Tier 3.

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Source: https://www.legislation.gov.uk/eudr/2009/138/article/94 (the official version)
Page: https://openlegislation.uk/eu-directive-2009-138/article-94
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.