(1) The Bank shall consult the competent authorities of the other Member States that are responsible for authorising insurance undertakings and reinsurance undertakings before granting an authorisation to an insurance undertaking that -
(a) is a subsidiary of an insurance undertaking or reinsurance undertaking authorised in another Member State, or
(b) is a subsidiary of the parent undertaking of such an insurance undertaking or reinsurance undertaking, or
(c) is controlled by the same person who controls such an insurance undertaking or reinsurance undertaking.
(2) The Bank shall consult the competent authority of the other Member State responsible for the supervision of credit institutions or investment firms before granting an authorisation to an insurance undertaking that is -
(a) a subsidiary of a credit institution or investment firm that is authorised in another Member State, or
(b) a subsidiary of the parent undertaking of such a credit institution or investment firm, or