Regulatory Alerts2015-05-26
Decree of Národná banka Slovenska No 5/2015 on demonstrating compliance for prior approval of qualifying holdings and mergers
Národná banka Slovenska issued Decree No 5/2015 to specify the data and documentation required for prior approval of qualifying holdings, mergers, and divisions in insurance and reinsurance undertakings. The decree mandates detailed disclosures regarding applicant identity, strategic objectives, financial resources, criminal records, and fit-and-proper status for natural persons, self-employed individuals, and legal entities. It further outlines specific submission requirements for merger or division applications, including draft contracts, business plans, and evidence that the restructuring will not harm creditors.
Share