(1) If paragraph 8 of Schedule 6 (additional conditions applying to non-UK insurers) applies to the person concerned, it must, for the purposes of section 55B(3) of the Act, satisfy the following additional conditions -

(a) it must have a representative who is resident in the United Kingdom and who has authority to bind it in its relations with third parties and to represent it in its relations with the PRA and the courts in the United Kingdom;

(b) subject to paragraph (2), if the person concerned is not a Swiss general insurance company -

(i) it must be a body corporate entitled under the law of the place where its head offce is situated to effect and carry out contracts of insurance;

(ii)[deleted]

(iii) unless the regulated activity in question relates solely to reinsurance, it must have made a deposit (of money or securities, as may be specified) of such an amount and with such a person as may be specified, and on such terms and subject to such other provisions as may be specified.

(2) [deleted]