Informative Notice
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Permit for the acquisition of a qualifying holding
The entity that intends to directly or indirectly acquire shares of an insurance company on the basis of which it would achieve or exceed the qualifying holding must acquire a permit for the acquisition of a qualifying holding from the Insurance Supervision Agency prior to acquiring such a holding.
A qualifying holding is an direct or indirect holding of a business share, shares or other rights in a certain legal entity, based on which the owner acquires:
1. at least ten per cent of the voting rights or at least ten per cent % of the capital of this legal entity;
2. a share of voting rights or a share of the capital of this legal entity while is lower than ten per cent, but it enables them to exercise a significant influence over the management of this legal entity.
A request for the issue of a permit for the acquisition of a qualifying holding must include:
1. the share of the voting rights or of the capital of an insurance company the future holder of a qualifying holding intends to acquire;
2. other information referred to in the first paragraph of Article 327 of this Act, which must be included in each request.
A request for the issue of a permit for the acquisition of a qualifying holding must include evidence and information that the future holder of a qualifying holding corresponds to statutory criteria for the acquisition of a qualifying holding.
Conditions
These terms apply to activity Insurance activity, except life insurance
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Future owners of a qualifying holding in an insurance company must have suitable reputation.
Evidence
Questionnaire to the request for the issue of a permit for a qualifying holding
Legal basis
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Persons with the opportunity to manage an insurance company or otherwise influence the operations of an insurance company if future owner acquires a qualifying holding required must have suitable reputation and experience.
Evidence
Questionnaire to the request for the issue of a permit for a qualifying holding
Legal basis
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Financial stability of future owners of a qualifying holding, especially in relation to the type of business carried out or planned by an insurance company, is required.
Evidence
Questionnaire to the request for the issue of a permit for a qualifying holding
Legal basis
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Suitable assessment of probable consequences if future owners acquire a qualifying holding required for the ability of an insurance company to act in accordance with the rules on risk management, and the fulfilment of requirements and limitations stipulated by the Insurance Act.
Legal basis
Procedures
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Permit for the acquisition of a qualifying holding
Attachments