Section 6: Administrative police measures

I. - When the Autorité de contrôle prudentiel et de résolution issues the invitation to tender provided for in the second paragraph of Article L. 612-33-2 with a view to the ex officio transfer of a portfolio of contracts provided for in 14° of Article L. 612-33, the undertaking concerned shall make the following information available to candidates for the transfer:

1° The latest version of its articles of association ;

2° All of its contracts, operations or regulations;

3° Its accounts for the previous three financial years, including the balance sheet, profit and loss account, underwriting profit and loss account, table of off-balance sheet commitments and notes;

4° The auditors' reports for these three financial years;

5° The accounts of its subsidiaries for the last two financial years;

6° Where applicable, a list of the entities it replaces and the associated replacement agreements;

7° All of its reinsurance treaties;

8° All agreements under which it outsources activities;

9° All information relating to claims experience for the current financial year, including in particular claims ratios, settlements of provisions for claims payable and estimates of recoveries to be collected;

10° Statements relating to changes in shareholders' equity, the profit and loss account by category and, for undertakings carrying on life insurance business, statements relating to profit-sharing or surplus.

II. - Where it is subject to the so-called "Solvency II" regime, the undertaking concerned shall also make available to applicants for transfer the following additional information for the last three financial years on an annual and, where applicable, quarterly basis:

1° The prudential balance sheet and off-balance sheet items ;

2° The prudential statement relating to activity by country, where applicable;

3° Prudential statements relating to assets;

4° Prudential statements relating to the technical provisions applicable to it;

5° Prudential statements relating to the level and composition of own funds;

6° Prudential statements relating to the calculation of the Solvency Capital Requirement and the Minimum Capital Requirement;

7° Where applicable, statements relating to the impact of transitional measures.

III. - Where it is not subject to the "Solvency II" regime, the undertaking concerned shall also make available to applicants for transfer the following additional information for the last three financial years:

1° The table supplementing the statement of investments ;

2° The prudential statements submitted to the Autorité de contrôle prudentiel et de résolution, which are likely to provide relevant information on the portfolio concerned;

3° Quarterly statements for the first three quarters of the current financial year.

IV. - Applications for a full or partial takeover sent to the Autorité de contrôle prudentiel et de résolution must include :

1° A copy of the articles of association and by-laws of the applicant undertaking ;

2° The minutes of the competent decision-making body authorising the undertaking to apply;

3° A list of the commitments that it is intended to take over;

4° The list and value of the assets that it is intended to take over;

5° The financial terms of the transfer;

6° The justification for the proposed takeover, in particular its coherence in terms of development strategy and organisation of the business with a view to the future;

7° The means implemented to continue, without any material disruption, the management of current contracts;

8° The date on which the transfer is envisaged;

9° A forecast balance sheet and profit and loss account for the current financial year, not including the transfer operation;

10° A balance sheet and a projected profit and loss account for the current financial year including the portfolio transferred;

11° A statement of unrealised capital gains and the proportion of the assets of the transferring insurer before the transfer and of the transferee insurer before and after the transfer, as a result of the application of the provisions of articles L. 212-6 and R. 212-10 of the Mutual Code, L. 344-1 and R. 344-1 of the Insurance Code, and L. 931-32 and R. 931-11-9 of the Social Security Code;

12° The list of contracts to be transferred, with the corresponding mathematical reserves, together with evidence that policyholders' rights in terms of participation in profits or surpluses will be maintained, and a description of the specific treatment of the obligation to recognise the transferred assets separately, as provided for inArticle L. 324-7 of the French Insurance Code, for transfers of life insurance and capitalisation operations;

13° Forecasts relating to eligible basic own funds enabling coverage of the Minimum Capital Requirement and eligible basic own funds enabling coverage of the Solvency Capital Requirement at the end of the transfer, in particular the prudential balance sheet, as well as the own funds, off-balance sheet items and estimates for all assets and liabilities transferred, for undertakings subject to the so-called "Solvency II" regime;

14° The Solvency Capital Requirement and the Minimum Capital Requirement before and after the transfer, for undertakings subject to the Solvency II regime;

15° The prudential statements, before and after transfer, defined by order of the Minister for the Economy, for undertakings not covered by the Solvency II regime.