(1) The Bank shall not grant an authorisation to an undertaking to take up the business of insurance or reinsurance before it has been informed of the identities of the shareholders or members, direct or indirect, whether natural or legal persons, who have qualifying holdings in that undertaking and of the amounts of those holdings.
(2) The Bank shall not grant an authorisation to an undertaking if, taking into account the need to ensure the sound and prudent management of the undertaking, it is not satisfied as to the qualifications of the shareholders or members.
(3) For the purposes of paragraph (1) the voting rights referred to in Articles 9 and 10 of Directive 2004/109/EC, as well as the conditions regarding aggregation laid down in Article 12(4) and (5) of that Directive, shall be taken into account.
(4) The Bank shall not take into account voting rights or shares which investment firms or credit institutions may hold as a result of providing the underwriting of financial instrum
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