Consolidation of own funds requirements
Article 8
1. The own funds of a Union parent undertaking, or of a relevant entity designated as responsible for prudential consolidation in accordance with Article 5, shall, on a consolidated basis, amount to at least the highest of any of the following: (a) the amount of the consolidated permanent minimum capital requirement calculated in accordance with Article 9; (b) the amount of the fixed overheads requirement calculated in accordance with Article 10; (c) the amount of the K-factor requirement calculated in accordance with Article 11. 2. By way of derogation from paragraph 1, the own funds of a Union parent undertaking, or of a relevant entity designated as responsible for prudential consolidation in accordance with Article 5, that meet, on a consolidated basis, the conditions for qualifying as a small and non-interconnected investment firm as referred to in Article 12(1) of Regulation (EU) 2019/2033, shall, on a consolidated basis, amount to at least the highest of the amounts referred to in paragraph 1, points (a) and (b). 3. The Union parent undertaking, or the relevant entity designated as responsible for prudential consolidation in accordance with Article 5, shall notify the group supervisor, as soon as it becomes aware thereof, that it no longer complies with or will no longer comply with paragraph 1 or 2, as applicable.