Article 7
Revision of the approved amount or withdrawal of the approval of the method
1. Where an ancillary own-fund item no longer fulfils the conditions under which the approval of an amount or calculation method was granted, the supervisory authority shall decide on either of the following actions:
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(a) |
to reduce the amount of an ancillary own-fund item to a lower amount or to nil; |
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(b) |
to withdraw its approval of a calculation method. |
2. The supervisory authority shall notify the insurance or reinsurance undertaking, immediately, stating the reasons, where it has made a decision in accordance with paragraph 1.