On Oct. 7, SLK CB issued communiqué from Board meeting's decision.
SLK CB decided on a measure re compliance with (re-)insurance license conditions.
Main Points
SLK CB discussed and approved a measure establishing the method of demonstrating compliance with the conditions for granting a license to carry out insurance activities and reinsurance activities for entities to which a special regime will not apply.
It responds to the Act No 309/2023 Coll. on conversion of companies and cooperatives which transposed Dir 2017/1132 (#231437) and supplemented the Insurance Act by regulating the cross-border change of the legal form of (re-)insurance undertakings.
The measure clarifies the documents used to demonstrate compliance with licensing conditions, especially in connection with the amendment of legal regulations in relation to the cross-border change of the legal form of insurance and reinsurance companies.
And to eliminate duplication with the Act No 747/2004 Coll. on financial market supervision, as amended, in the area of formal requirements of the application.
Effectiveness
The measure enters into force on Nov. 1, 2025; measure No 8/2015 is repealed.
