English translation of article 71bis of the Swiss Insurance Supervision Act

Bankruptcy 

Chapter 6: Special provisions regarding the supervision of insurance groups and insurance conglomerates
Section 1: Insurance groups 

This page contains an English translation of the below Article of the Swiss Insurance Supervision Act (ISA) and is part of a web based Swiss ISA commentary in German language. Should you require qualified written legal advice on the ISA from a Swiss lawyer please do not hesitate to contact: Melissa Gautschi

Article 71bis of the Swiss Insurance Supervision Act 

Bankruptcy

1 Articles 53-54e of this Act shall apply by analogy to a group company domiciled in Switzerland that performs important functions for the activities subject to authorisation and that is not subject, in the context of the entity’s individual supervision pursuant to the financial market acts set out in article 1 of the Financial Market Supervision Act of 22 June 2007 (financial market acts), to the bankruptcy competence of FINMA (significant group company).

2 The Federal Council shall determine the criteria for the evaluation of the measure of significance.

3 FINMA shall designate the significant group companies and shall maintain a list thereof. This list shall be publicly available.
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