2 Amendments of Ilan DE BASSO related to 2021/0296(COD)
Amendment 46 #
Proposal for a directive
Recital 14 a (new)
Recital 14 a (new)
(14 a) Mutual and mutual-type insurance undertakings do not have any external owners, which may lead to policy holders being negatively affected and becoming financially liable should those undertakings fail. In order to protect policy holders, avoid legal difficulties and ensure the proportionate application of this Directive, authorities should be equipped with resolution tools adapted to insurance undertakings’ specific legal form. Those tools should be as similar to the tools listed in this Directive as possible to safeguard the smooth operation of the internal market, while averting significant negative effects for policy holders.
Amendment 170 #
Proposal for a directive
Article 26 – paragraph 3 a (new)
Article 26 – paragraph 3 a (new)
3 a. Member States shall ensure that, to the extent that any of the resolution tools listed in paragraph 3 of this Article are not applicable to an undertaking or entity, covered by this Directive, as a result of its specific legal form, resolution authorities shall be equipped with resolution tools which are as similar as possible, including in terms of their effects.