(1) Subject to paragraph (2), in the case referred to in Regulation 216(3)(c), the Bank shall verify whether the insurance undertakings and reinsurance undertakings the parent undertaking of which has its head office outside the European Union are subject to supervision, by a third-country supervisory authority, which is equivalent to that provided for by this Part on the supervision at the level of the group of insurance undertakings and reinsurance undertakings referred to in Regulation 216(3)(a) and (b).

(2) Where no delegated act as referred to in Article 260(3) or (5) of the Directive has been adopted, the verification shall be carried out by the Bank (as "acting group supervisor") if the criteria set out in Regulation 248(2) and (3) apply, at the request of the parent undertaking or of any of the insurance undertakings and reinsurance undertakings authorised in a Member State or on its own initiative.