(1) In this Act, except where the context otherwise requires -

"authorisation" means an authorisation granted under the Regulations of 1976, the Regulations of 1984, the Non-Life Regulations of 1994, the Life Regulations of 1994 or the European Union (Insurance and Reinsurance) Regulations 2015 (S.I. No. 485 of 2015) to carry on a specified class or description of insurance business;

"authorised agent" in relation to an undertaking means the person designated as authorised agent of the undertaking under the Regulations of 1976 or the Regulations of 1984;

"Bank" means the Central Bank of Ireland;

"business" means assurance or insurance business;

"commission payment" has the meaning given to it by subsection (3);

"the Companies Acts" means the Companies Act, 1963, and any enactment which is to be construed together with it;