Search results for "Minimum capital requirement"
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A Synthetic View of Different Concepts of Creditor Protection - Or a High-Level Framework for Corporate Creditor Protection
2006
Protection of corporate creditors has become an important topic within the European Union. At EU level, discussion has been sparked by widespread dissatisfaction with some very rigid and cumbersome provisions, and even with the whole concept of the Second Company Law Directive. At EU Member State level, three landmark decisions by the European Court of Justice — Centros, Uberseering, and Inspire Art — opened the way for an all-out competition between the different company forms provided for by national company laws. At both levels, albeit for different reasons, British company law — and in particular the absence of any legal capital in the private limited company — acts as the main driving …
Supervisory Review Process
2015
This chapter addresses the legal outlining of the supervisory review process. There is an apparent contradiction between principles-based insurance supervision on the one hand and, on the other hand, legal certainty along with foreseeability of supervisory action under art. 36 of the Solvency II Directive. With this in view, the chapter next examines the objectives and subject matter of the supervisory review process, with particular scrutiny given to requirements relating to solvency and governance. The powers of supervisory authorities to remedy weaknesses and deficiencies are then taken up.