(2)An undertaking having its head office in the State applying for an authorisation to extend its business to other classes of insurance, shall— ( a ) submit to the Minister a scheme

(3)Undertakings referred to in Article 19

(6)of these Regulations wishing to extend their business to other classes of insurance may be exempted by the Minister from establishing the minimum guarantee fund referred to in subarticle 2 (b) of this Article for any period ending not later than the 1st day of August, 1983. 11 Conditions appropriate to a branch or agency of an undertaking with its head office in another member State 11.

(1)An undertaking having its head office in the territory of another member State and which there fulfils the requirements of the Directive shall, when applying for an authorisation— ( a ) submit to the Minister a copy of its memorandum and articles of association and a list of its directors and managers, ( b ) produce a certificate issued by the supervisory authority of the State in whose territory the head office is situated, attesting the classes of insurance which the undertaking is entitled to carry on and that it possesses the minimum guarantee fund or, if higher, the minimum solvency margin calculated in accordance with Article 16 of these Regulations, and indicating the risks which it actually covers and the financial resources referred to in Article 11

(1)(e) of the Directive, ( c ) submit a scheme

(2)Where the authorised agent referred to in subarticle

(1)(d) of this Article is a legal person, its head office shall be in the State and it shall designate a person other than a legal person to represent it who complies with that subarticle.

(3)A branch or agency of an undertaking with a head office in another member State which is deemed to hold an authorisation under Article 6

(1)of these Regulations shall comply with the provisions of subarticle 1 (d) and subarticle

(2)of this Article.

(4)A person who purports to have been designated by a non-life insurance undertaking as its authorised agent for the purposes of this Article or Article 26 of these Regulations shall, without prejudice to the liability of his principal, be personally liable for all matters arising from the carrying on in the State of the business of non-life insurance by that undertaking.

(5)An undertaking having its head office in the territory of another member State and applying for an authorisation to extend the business of its branch or agency in the State to other classes of insurance shall— ( a ) submit to the Minister a scheme

(6)Undertakings referred to in Article 19

(6)of these Regulations wishing to extend branch or agency operations to other classes of business may be exempted by the Minister from establishing the minimum guarantee fund referred to in subarticle 1 (b) of this Article for any period ending not later than the 1st day of August, 1983. 12 .. 12.

(1)Where the Minister decides to refuse an application for an authorisation (whether in respect of a head office or a branch or agency) he shall notify his decision to the applicant and shall in the notification specify the grounds for his decision.

(2)An applicant whose application for an authorisation has been refused may appeal against the refusal to the High Court.

(3)( a ) Where the Minister at the expiry of a period of six months from the date of receipt by him of an application for an authorisation has not dealt with it, the applicant may apply to the High Court for an order directing the Minister to deal with the application within such period as may be specified in the order, and the Minister shall comply with the order. ( b ) Before making an order under this subarticle, the High Court shall afford to the Minister an opportunity of being heard in relation to the application for the order. 13 .. 13. The Minister shall provide the supervisory authority of another member State with such information as is necessary for the purpose of verifying the solvency margin of an undertaking having a branch or agency in the State and its head office in that other member State. 14 Technical Reserves Provisions 14.

(1)An undertaking which is the holder of an authorisation shall establish and maintain technical reserves, calculated in accordance with regulations, in respect of underwriting liabilities assumed by it.

(2)Assets of an amount equivalent to the amount of the technical reserves shall be localised in the State by an undertaking in accordance with regulations.

(3)Pending the making of regulations, an undertaking shall maintain in the State assets equal to the amount which it would have had to maintain with the Court under section 22 of the Insurance Act, 1936 , if the total underwriting liabilities of the undertaking in the State were higher than that amount, and, if these underwriting liabilities are lower than that amount, only assets representing such underwriting liabilities must be maintained in the State.

(4)Section 22 of the Insurance Act, 1936 , shall not apply to an undertaking which complies with this Article.

(5)Where an underwriting liability is expressed in a particular currency, assets representing that liability shall be realisable in that currency subject to and in accordance with regulations.

(6)Assets representing technical reserves required to be held under this Article shall comprise assets in accordance with regulations and shall be valued in accordance with regulations.

(7)In this Article "regulations" means regulations under the European Communities Act, 1972 (No. 27 of 1972). 15 .. 15. Where an undertaking which is the holder of an authorisation fails to comply with Article 14 of these Regulations, the following provisions shall apply: ( a ) the Minister may (after notifying the supervisory authority of another member State in a case where the undertaking has its head office in that State) prohibit the free disposal of assets in the State by the undertaking and the undertaking or authorised agent mentioned in Article 11 shall comply with any request made by the Minister in this regard, ( b ) the Minister may, when he considers it necessary to do so in order to safeguard the interests of persons insured by the undertaking, give a direction to the undertaking— (i) to suspend the taking on of new business, (ii) to furnish deposits, (iii) to furnish information to the Minister, or (iv) to take such further measures as may be specified in the direction. and the undertaking or authorised agent shall comply with the direction. 16 Solvency Margin 16.

(1)An undertaking whose head office is situated in the State shall establish an adequate solvency margin in respect of its entire business in accordance with this Article.

(2)The solvency margin shall correspond to the assets of the undertaking, free of all foreseeable liabilities, less any intangible items, and in calculating the amount of the solvency margin the following shall be considered:— ( a ) the paid up share capital or, in the case of a mutual concern, the effective initial fund, ( b ) one-half of the share capital or the initial fund which is not yet paid up, once the paid-up part reaches 25 per cent of this capital or fund, ( c ) reserves (including both statutory reserves and free reserves) not corresponding to underwriting liabilities, ( d ) any carry-forward of profits, ( e ) in the case of a mutual or mutual-type association with variable contributions, any claim which it has against its members by way of a call for supplementary contribution, within the financial year, up to one-half of the difference between the maximum contributions and the contributions actually called in, and subject to an over-riding limit of 50 per cent of the margin, ( f ) at the request of, and upon proof being shown to the Minister by the undertaking, and with the agreement of the supervisory authorities of each other member State where it carries on its business, any hidden reserves resulting from under-estimation of assets or over-estimation of liabilities in the balance sheet insofar as such hidden reserves are not of an exceptional nature.

(3)For the purposes of calculating over-estimation of technical reserves, an amount equivalent to 75 per cent of the difference between the amount of the reserve for outstanding risks (calculated at a flat rate by the undertaking by application of a minimum percentage in relation to premiums) and the amount that would have been obtained by calculating the reserve contract by contract may be taken into account in the solvency margin up to 20 per cent.

(4)( a ) Subject to subparagraph (b), the solvency margin shall be determined on the basis either of the annual amount of premiums or contributions, or of the average burden of claims for the preceding three financial years. ( b ) In the case of an undertaking which substantially underwrites only one or more of the risks of storm, hail, frost, the preceding seven years shall be taken as the period of reference for the average burden of claims.

(5)Subject to Article 19 of these Regulations, the amount of the solvency margin shall be equal to the higher of the following two results:— ( a ) First result (premium basis): (

1. i)the premiums or contributions (inclusive of charges ancillary to premiums or contributions) due in respect of all direct business in the last financial year for all financial years, shall be aggregated; (
2. ii)to this aggregate there shall be added the amount of premiums accepted for all reinsurance in the last financial year; (iii) from this sum there shall be deducted the total amount of premiums or contributions cancelled in the last financial year, as well as the total amount of taxes and levies pertaining to the premiums or contributions entering into the aggregate; (
3. iv)the amount so obtained shall be divided into two portions, the first portion extending up to 10 million units of account, the second comprising the excess: 18 per cent and 16 per cent of these portions respectively shall be calculated and added together; (
4. v)the first result shall be obtained by multiplying the sum calculated in accordance with clauses (
5. i)to (
6. iv)by the ratio existing in respect of the last financial year between the amount of claims less re-insurance recoverable and the gross amount of claims, but this ratio may in no case be less than 50 per cent. ( b ) Second result (claims basis): (
7. i)the amounts of claims paid in respect of direct business (without any deduction of claims recoverable from reinsurers and retrocessionaires) in the periods referred to in subarticle

(4)of this Article shall be aggregated; (

1. ii)to this aggregate there shall be added the amount of claims paid in respect of reinsurance or retrocessions accepted during the same periods; (iii) to this sum there shall be added the amount of provisions or reserves for outstanding claims established at the end of the last financial year both for direct business and for reinsurance acceptances; (
2. iv)from this sum there shall be deducted the amount of recoveries effected during the periods referred to in subarticle

(4)of this Article; (

1. v)from the sum then remaining there shall be deducted the amount of provisions or reserves for outstanding claims established at the commencement of the second financial year preceding the last financial year for which there are accounts, both for direct business and for reinsurance acceptances; (
2. vi)one-third or one-seventh of the amount so obtained according to the period of reference established in subarticle

(4)of this Article shall be divided into two portions, the first extending up to seven million units of account and the second comprising the excess; 26 per cent and 23 per cent of these portions respectively shall be calculated and added together; (vii) the second result shall be obtained by multiplying the sum calculated in accordance with this Article by the ratio existing in respect of the latest financial year between the amount of claims less reinsurance recoverable and the gross amount of claims, but this ratio may in no case be less than 50 per cent.

(6)The fractions applicable to the portions referred to in subarticle

(5)of this Article shall each be reduced to a third in the case of health insurance practised on a similar technical basis to that of life assurance, if— ( a ) the premiums paid are calculated on the basis of sickness tables according to the mathematical method applied in life insurance; ( b ) a reserve is set up for increasing age; ( c ) an additional premium is collected in order to set up a safety margin of an appropriate amount; ( d ) the insurer may only cancel the contract before the end of the third year of insurance at the latest; ( e ) the contract provides for the possibility of increasing premiums or reducing payments even for current contracts. 17 .. 17. Where the solvency margin of an undertaking which is the holder of an authorisation and which has its head office in the State falls below the amount required by Article 16 of these Regulations, the Minister shall require a plan to be submitted to him by the undertaking for his approval for the restoration of a sound financial position. 18 .. 18.

(1)Subject to subarticle

(2)of this Article, an Insurance undertaking carrying on business in the State at the commencement of these Regulations shall comply with the provisions of Article 16 of these Regulations not later than 1st day of August, 1978.

(2)Where an undertaking referred to in subarticle

(1)of this Article has not by the date specified in that subarticle fully established the solvency margin required by this Article, the Minister may allow the undertaking a further period not exceeding two years in which to do so if the undertaking has submitted to the Minister a plan to his satisfaction for its restoration to a sound financial position. 19 Guarantee Fund 19.

(1)An undertaking which is the holder of an authorisation and has its head office in the State shall establish a minimum guarantee fund in accordance with this Article.

(2)Subject to subarticle

(3)of this Article, the amount of the guarantee fund shall be equal to one-third of the solvency margin required to be established by the undertaking in accordance with Article 16 of these Regulations.

(3)The amount of the guarantee fund shall not be less than— ( a ) 400,000 units of account in a case where all or some of the risks included in one of the classes listed in Section A of the Annex at reference numbers 10, 11, 12, 13, 14 or 15 are covered, ( b ) 300,000 units of account in a case where all or some of the risks included in one of the classes listed in Section A of the Annex at reference numbers 1, 2, 3, 4, 5, 6, 7, 8 or 16 are covered, ( c ) 200,000 units of account in a case where all or some of the risks included in one of the classes listed in Section A of the Annex at reference numbers 9 or 17 are covered.

(4)Where the business carried on by an undertaking covers several classes or several risks, only that class or risk for which the highest amount is required shall be taken into account in establishing the appropriate minimum amount under subarticle

(3)of this Article.

(5)In the case of mutual associations and mutual type associations, the amount of the minimum guarantee fund required by subarticle

(3)of this Article may be reduced by one-fourth on application to the Minister.

(6)The Minister may exempt an undertaking, which at the commencement of these Regulations is providing insurance in the State in one or more of the classes defined in the Annex and whose annual premium or contribution income at such commencement falls short of six times the amount of the minimum guarantee fund required by subarticle

(3)of this Article, from the requirement to establish a minimum guarantee fund before the end of the financial year in respect of which the premium or contribution income is as much as six times such minimum guarantee fund. 20 .. 20.

(1)Where the solvency margin of an undertaking which is the holder of an authorisation and has its head office in the State falls below the guarantee fund as defined in Article 19 of these Regulations, the Minister may require the undertaking to submit to him for his approval a short-term finance scheme.

(2)In a case referred to in subarticle

(1)of this Article, the Minister may also restrict or prohibit the free disposal of the assets of the undertaking, and the undertaking or the authorised agent referred to in Article 11 of these Regulations shall comply with any directions of the Minister in this regard.

(3)The Minister may, when he considers it necessary to do so in order to safeguard the interests of persons insured by the undertaking, give a direction to the undertaking— (

1. i)to suspend the taking on of new business, (
2. ii)to furnish deposits, (iii) to furnish information to the Minister, or (
3. iv)to take such further measures as may be specified in the direction, and the undertaking or the authorised agent shall comply with the direction.

(4)Where the supervisory authority of another member State requests the Minister to take the measures mentioned in subarticle

(2)of this Article in relation to a branch or agency in the State of an undertaking with its head office in that other State, the Minister shall comply with the request.

(5)Where any measures are taken under this Article, the Minister shall so inform the supervisory authorities of any other member State where the undertaking is authorised under the Directive. 21 Annual Returns to Minister and Register of Technical Reserves 21.

(1)An undertaking whose head office is situated in the State and which is the holder of an authorisation shall furnish the Minister annually or at such more frequent intervals as the Minister may request with such information, in such form and manner as he may require, as will enable him to verify the state of solvency of the undertaking with respect to its entire business.

(2)An undertaking which is the holder of an authorisation shall furnish to the Minister annually or at such more frequent intervals as the Minister may request such returns and documents in such form and manner as he may require, as are necessary to enable the Minister to verify that the technical reserves mentioned in Article 14 are being maintained and to enable him to comply with Article 13 of these Regulations.

(3)Every undertaking which is the holder of an authorisation shall keep a register showing the assets representing the technical reserves required by these Regulations in respect of insurance carried on in the State in each class by the undertaking and shall furnish to the Minister a certificate of the value of these assets on the closing date for which the accounts and balance sheets of the head office of the undertaking are furnished to the competent authority of the State in which the head office is situated, such values being those in such accounts and balance sheets. 22 Assignment of Policies 22.

(1)Subject to the provisions of section 13 of the Assurance Companies Act, 1909 and of these Regulations an undertaking may, after prior consultation with the Minister, assign all or part of its portfolio of policies if the assignee possesses the solvency margin required by these Regulations, due account being taken of the assignment.

(2)Before an assignment under this Article is effected, the Minister shall consult the supervisory authority of any other member State in which the undertaking carried or carries on business. 23 Revocation of Authorisation 23.

(1)An authorisation held by an undertaking whose head office is situated in the State may be revoked if the holder— ( a ) no longer fulfils the conditions required by these Regulations for the granting of an authorisation, ( b ) has been unable, within the time allowed, to take the measures contained in the restoration plan or finance scheme referred to in Article 17 or 20

(1)of these Regulations, or ( c ) fails seriously in its obligations under these Regulations.

(2)Where an authorisation is revoked under subarticle

(1)of this Article, the following provisions shall apply:— ( a ) the Minister shall notify the revocation to the supervisory authorities of any other member State in which the undertaking carries on business; ( b ) the Minister shall restrict the free disposal by the undertaking of its assets in the State if such a restriction has not been imposed under Article 17 or 20 of these Regulations; ( c ) the Minister shall take such further measures as he considers necessary to safeguard the interests of persons insured by the undertaking.

(3)( a ) An authorisation held by an undertaking whose head office is situated in the territory of another member State may be revoked if the branch or agency of that undertaking in the State: (

1. i)no longer fulfils the conditions required by these Regulations for the granting of an authorisation, or (
2. ii)fails seriously in its obligations under these Regulations with respect in particular to the establishment of technical reserves as is required by Article 14 of these Regulations; ( b ) before revoking an authorisation under paragraph (
3. a)of this subarticle the Minister shall consult the supervisory authority of the State where the head office is situated; ( c ) the Minister may suspend the business of the branch or agency before such consultation is concluded and shall in such a case notify the supervisory authority of the State where the head office is situated.

(4)An authorisation held by a branch or agency of an undertaking whose head office is situated in the territory of another member State shall be revoked by the Minister if the supervisory authority in that other State withdraws from that undertaking the authorisation held in that State by that undertaking and notifies the Minister of the withdrawal.

(5)Any decisions to revoke an authorisation or suspend business under this Article shall be supported by precise reasons and notified in writing to the undertaking in question.

(6)An undertaking may appeal to the High Court against a decision of the Minister under this Article to revoke an authorisation or to suspend the business of an undertaking. PART III. 24 .. 24. Articles 25 to 32 of these Regulations apply to non-life insurance undertakings whose head offices are not situated in the territory of a member State. 25 .. 25.

(1)An application for an authorisation may be made to the Minister by a non-life insurance undertaking whose head office is situated outside the European Communities and which proposes to establish a branch or agency in the State.

(2)A branch or agency of a non-life insurance undertaking whose head office is situated outside the European Communities and authorised to undertake insurance in the State may apply to extend its business to classes of insurance for which it is not authorised or to part of such classes. 26 Conditions of Admission 26.

(1)The Minister may at his discretion grant an authorisation in respect of a branch or agency of an insurance undertaking having its head office situated outside the European Communities if the undertaking fulfils at least the following conditions: ( a ) it is entitled to undertake insurance business under the law of the State where its head office is situated; ( b ) it establishes a branch or agency in the State; ( c ) it undertakes to maintain at the place of management of the branch or agency in the State accounts specific to the business which it undertakes in the State and to keep at that place all the records relating to the business transacted in the State; ( d ) it designates an authorised agent for such purposes as the Minister may require and who shall be approved by the Minister; ( e ) it possesses in the State assets of an amount equal to at least one-half of the minimum amount required by Article 19

(3)of these Regulations in respect of an undertaking to which that Article applies and deposits with the High Court one-fourth of that minimum amount as security; ( f ) it undertakes to keep a margin of solvency in accordance with Article 28 of these Regulations; ( g ) it submits a scheme

(1)and 11

(2)of the Directive as if it were an undertaking to which those Articles apply.

(2)A branch or agency of an undertaking with a head office outside the European Community which is deemed to hold an authorisation under Article 6

(1)of these Regulations shall comply with the provisions of subarticles

(1)(d) and

(2)of Article

1. 27 Technical Reserves
2. An undertaking authorised under Article 26 of these Regulations shall establish and maintain technical reserves adequate to cover the underwriting liabilities assumed in the State in accordance with Article 14 of these Regulations. 28 Solvency Margin 28.

(1)Subject to subarticle

(2)of this Article, Articles 16 and 17 of these Regulations shall apply to an undertaking to which this Article applies.

(2)In calculating a solvency margin for the purposes of this Article, account shall be taken only of the premiums or contributions and claims pertaining to the business effected by the undertaking in the State.

(3)The assets representing the solvency margin shall be retained in the State up to the amount of the guarantee fund required by Article 29 of these Regulations and any excess shall be retained either in the State or in another member State.

(4)This Article, insofar as it applies to an undertaking which at the date of the making of these Regulations is carrying on business in the State in one or more of the classes of insurance specified in the Annex, shall come into operation on the 1st day of August, 1978, provided it does not extend its business within the meaning of Article 10

(2)of the Directive. 29 Guarantee Fund 29.

(1)Subject to subarticle

(2)of this Article, Article 19 of these Regulations shall apply to an undertaking to which this Article applies.

(2)The amount of a minimum guarantee fund shall not be less than one-half of the minimum required under Article 19

(3)of these Regulations and the deposit lodged under Article 26 (e) of these Regulations shall be reckoned in calculating the amount of a guarantee fund for the purposes of this Article. 30 Annual Returns

1. Save as provided in Article 32 of these Regulations, Article 21 of these Regulations shall, insofar as is applicable, apply to an undertaking to which this Article applies as if the undertaking were one whose head office is situated in the State. 31 ..
2. Articles 15, 20, 22 and 23 of these Regulations shall apply to an undertaking to which this Article applies subject to the following modifications, namely, that the references in Articles 15 (a), 20

(3)and 23 to another member State shall be construed as references to the member State in which the undertaking in question first commenced to carry on business. 32 .. 32. An undertaking which obtains an authorisation under the Directive from a member State and subsequently obtains from another member State (or other such States) such an authorisation in respect of a branch or agency may apply to the Minister for one or more of the advantages specified in Article 26 of the Directive, and Article 26

(2)and

(3)of the Directive shall apply in such a case. PART IV 33 Penalties 33.

(1)A person who fails to comply with any provision of these Regulations shall be guilty of an offence and shall be liable on summary prosecution to a fine not exceeding £500.

(2)Where an offence under these Regulations is committed by a body corporate and is proved to have been so committed with the consent or connivance of or to be attributable to any neglect on the part of a director, manager, secretary or other officer of the body corporate, the director, manager, secretary or other officer or any person purporting to act in such capacity shall also be deemed to have committed the offence and he, as well as the body corporate, shall be deemed to be guilty of the offence. SCHEDULE I Annex to EEC Council Directive 73/239/EEC A. Classification of risks according to classes of insurance

1. Accident (including industrial injury and occupational diseases) —fixed pecuniary benefits —benefits in the nature of indemnity —combinations of the two —injury to passengers
2. Sickness —fixed pecuniary benefits —benefits in the nature of indemnity —combinations of the two
3. Land vehicles (other than railway rolling stock) All damage to or loss of —land motor vehicles —land vehicles other than motor vehicles
4. Railway rolling stock All damage to or loss of railway rolling stock
5. Aircraft All damage to or loss of aircraft
6. Ships (sea, lake and river and canal vessels) All damage to or loss of —river and canal vessels —lake vessels —sea vessels
7. Goods in transit (including merchandise, baggage, and all other goods) All damage to or loss of goods in transit or baggage, irrespective of the form of transport.
8. Fire and natural forces All damage to or loss of property (other than property included in classes 3, 4, 5, 6 and 7) due to —fire —explosion —storm —natural forces other than storm —nuclear energy —land subsidence
9. Other damage to property All damage to or loss of property (other than property included in classes 3, 4, 5, 6 and 7) due to hail or frost, and any event such as theft, other than those mentioned under
11. Motor vehicle liability All liability arising out of the use of motor vehicles operating on the land (including carrier's liability)
12. Aircraft Liability All liability arising out of the use of aircraft (including carrier's liability)
13. Liability for ships (sea, lake and river and canal vessels) All liability arising out of the use of ships, vessels or boats on the sea, lakes, rivers or canals (including carrier's liability)
14. General liability All liability other than those forms mentioned under Nos. 10, 11 and
16. Credit —insolvency (general) —export credit —instalment credit —mortages —agricultural credit
17. Suretyship —suretyship (direct) —suretyship (indirect)
18. Miscellaneous financial loss —employment risks —insufficiency of income (general) —bad weather —loss of benefits —continuing general expenses —unforeseen trading expenses —loss of market value —loss of rent or revenue —indirect trading losses other than those mentioned above —other financial loss (non-trading) —other forms of financial loss
19. Legal expenses Legal expenses and costs of litigation The risks included in a class may not be included in any other class except in the cases referred to in Section C. B. Description of authorisations granted for more than one class of insurance. Where the authorisation simultaneously covers: ( a ) Classes Nos 1 and 2, it shall be named 'Accident and Health Insurance'; ( b ) Classes Nos. 1 (fourth indent), 3, 7 and 10, it shall be named 'Motor Insurance'; ( c ) Classes Nos. 1 (fourth indent), 4, 6, 7 and 12, it shall be named 'Marine and Transport Insurance'; ( d ) Classes Nos. 1 (fourth indent), 5, 7 and 11, it shall be named 'Aviation Insurance'; ( e ) Classes Nos. 8 and 9, it shall be named 'Insurance against Fire and other Damage to property'; ( f ) Classes Nos. 10, 11, 12 and 13, it shall be named 'Liability Insurance'; ( g ) Classes Nos. 14 and 15, it shall be named 'Credit and Suretyship Insurance'; ( h ) All classes, it shall be named at the choice of the member State in question, which shall notify the other member States and the Commission of its choice. C. Ancillary risks An undertaking obtaining an authorisation for a principal risk belonging to one class or a group of classes may also insure risks included in another class without an authorisation being necessary for them if they: —are connected with the principal risk, —concern the object which is covered against the principal risk, and —are covered by the contract insuring the principal risk. However, the risks included in classes 14 and 15 in point A of this Annex may not be regarded as risks ancillary to other classes. SCHEDULE II Correspondence between classes of non-life insurance licensed under the Insurance Act, 1936 , and the classes of the Annex to the EEC Non-Life Insurance Co-ordination Directive (73/239/EEC).

(3)Classes of insurance business licensed under Insurance Act, 1936 . Equivalent classes of insurance business specified under Section A of the Annex to the Directive. Groups of classes specified under Section B of the Annex to the Directive into which those in Column

(2)fall. Fire 8 e Accident 1, 2 a Employers Liability 13 f Mechanically Propelled Vehicle 1, 3, 7, 10 b Public Liability 13 f Engineering 9, 13 e and f Glass 9 e Guarantee 9, 15 e and g Burglary 9 e Bond Investment 16 — SCHEDULE III Authorisation forms referred to in Regulation 7 DEPARTMENT OF INDUSTRY AND COMMERCE. CERTIFICATE OF AUTHORISATION. INSURANCE UNDERTAKING WITH ITS HEAD OFFICE IN IRELAND. Subject to the provisions of the Insurance Acts, 1936 to 1971, and in accordance with the European Communities (Non-Life Insurance) Regulations, 1976, ( S.I. No. 115 of 1976 ), implementing the 1st E.E.C. Non-Life Insurance Co-ordination Directive (73/239/E.E.C. of 24th July, 1973), the Minister for Industry and Commerce hereby authorises ............................................................ ............................................................ ............................................................ ........... ............................................................ ............................................................ ............................................................ ........... with an establishment at: ............................................................ ............................................................ ............................................................ ........... ............................................................ ............................................................ ............................................................ ........... to undertake as from the.................................................. day of............................................................ .................... the business of Non-Life Insurance in Ireland in the following classes of the aforementioned Directive: ............................................................ ............................................................ ............................................................ ........... ............................................................ ............................................................ ............................................................ ........... ............................................................ ............................................................ ............................................................ ........... ............................................................ ............................................................ ............................................................ ........... GIVEN under the Official Seal of the Minister for Industry and Commerce this day of Department of Industry and Commerce, Dublin 2, Ireland. DEPARTMENT OF INDUSTRY AND COMMERCE. CERTIFICATE OF AUTHORISATION. BRANCH OR AGENCY OF INSURANCE UNDERTAKING WITH HEAD OFFICE IN ANOTHER E.E.C. MEMBER STATE. Subject to the provisions of the Insurance Acts, 1936 to 1971, and in accordance with the European Communities (Non-Life Insurance) Regulations, 1976, ( S.I. No. 115 of 1976 ), implementing the 1st E.E.C. Non-Life Insurance Co-ordination Directive (73/239/E.E.C. of 24th July, 1973), the Minister for Industry and Commerce hereby authorises the branch or agency establishment of ............................................................ ............................................................ ............................................................ ..... ............................................................ ............................................................ ............................................................ ........... ............................................................ ............................................................ ............................................................ ........... with its Head Office at: ............................................................ ............................................................ ............................................................ ........... ............................................................ ............................................................ ............................................................ ........... and the branch or agency establishment at: ............................................................ ............................................................ ............................................................ ........... ............................................................ ............................................................ ............................................................ ........... to undertake as from the............................................................ ........ day of............................................................ .... the business of Non-Life Insurance in Ireland in the following classes of the aforementioned Directive: ............................................................ ............................................................ ............................................................ ........... ............................................................ ............................................................ ............................................................ ........... ............................................................ ............................................................ ............................................................ ........... ............................................................ ............................................................ ............................................................ ........... GIVEN under the Official Seal of the Minister for Industry and Commerce this day of Department of Industry and Commerce, Dublin 2, Ireland. DEPARTMENT OF INDUSTRY AND COMMERCE. CERTIFICATE OF AUTHORISATION. BRANCH OR AGENCY OF INSURANCE UNDERTAKING WITH HEAD OFFICE OUTSIDE AN E.E.C. MEMBER STATE. Subject to the provisions of the Insurance Acts, 1936 to 1971, and in accordance with the European Communities (Non-Life Insurance) Regulations, 1976, ( S.I. No. 115 of 1976 ), implementing the 1st E.E.C. Non-Life Insurance Co-ordination Directive (73/239/E.E.C. of 24th July, 1973), the Minister for Industry and Commerce hereby authorises the branch or agency establishment of ............................................................ ............................................................ ............................................................ .... ............................................................ ............................................................ ............................................................ ........... ............................................................ ............................................................ ............................................................ ........... with its Head Office at: ............................................................ ............................................................ ............................................................ ........... ............................................................ ............................................................ ............................................................ ........... and the branch or agency establishment at: ............................................................ ............................................................ ............................................................ ........... ............................................................ ............................................................ ............................................................ ........... to undertake as from the ............................................................ ........ day of ............................................................ . the business of Non-Life Insurance in Ireland in the following classes of the aforementioned Directive: ............................................................ ............................................................ ............................................................ ........... ............................................................ ............................................................ ............................................................ ........... ............................................................ ............................................................ ............................................................ ........... ............................................................ ............................................................ ............................................................ ........... GIVEN under the Official Seal of the Minister for Industry and Commerce this day of Department of Industry and Commerce, Dublin 2, Ireland. DEPARTMENT OF INDUSTRY AND COMMERCE. CERTIFICATE OF AUTHORISATION. LLOYD'S (KNOWN AS LLOYD'S OF LONDON). Subject to the provisions of the Insurance Acts, 1936 to 1971, and in accordance with the European Communities (Non-Life Insurance) Regulations, 1976, ( S.I. No. 115 of 1976 ), implementing the 1st E.E.C. Non-Life Insurance Co-ordination Directive (73/239/E.E.C. of 24th July, 1973), the Minister for Industry and Commerce hereby authorises Lloyd's (known as Lloyd's of London) ............................................................ ............................................................ ........................................................ ............................................................ ............................................................ ............................................................ ........... ............................................................ ............................................................ ............................................................ ........... with an establishment in Ireland at: ............................................................ ............................................................ ............................................................ ........... ............................................................ ............................................................ ............................................................ ........... to undertake as from the ............................................................ ........ day of ............................................................ .. the business of Non-Life Insurance in Ireland in the following classes of the aforementioned Directive: ............................................................ ............................................................ ............................................................ ........... ............................................................ ............................................................ ............................................................ ........... ............................................................ ............................................................ ............................................................ ........... ............................................................ ............................................................ ............................................................ ........... GIVEN under the Official Seal of the Minister for Industry and Commerce this day of Department of Industry and Commerce, Dublin 2, Ireland. GIVEN under my Official Seal, this 28th day of May, 1976. JUSTIN KEATING, Minister for Industry and Commerce. EXPLANATORY NOTE. These Regulations give effect to Council Directive of the European Communities of 24th July, 1973, (73/239/EEC). The Regulations apply to all authorised non-life insurance undertakings carrying on business in Ireland, whether from a head office, branch or agency established in Ireland. They specify the conditions of admission to the market, the rules which undertakings once authorised must comply with, for example the maintenance of financial security, including antecedant and consequential provisions. Undertakings from countries outside the Community are subject to special provisions in Part III. These Regulations amend certain provisions of the Insurance Acts, 1909 to 1971, insofar as they apply to non-life insurance. 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