(1) The objective of the assessment of a proposed acquisition relating to an insurance undertaking or reinsurance undertaking is to ensure the sound and prudent management of the undertaking.

(2) In assessing a proposed acquisition, the Bank shall, having regard to the likely influence of the proposed acquirer concerned on the undertaking, appraise the suitability of the proposed acquirer and the financial soundness of the proposed acquisition concerned against all of the following criteria:

(a) the reputation of the proposed acquirer;

(b) the reputation and experience of any person who will direct the business of the undertaking as a result of the proposed acquisition;

(c) the financial soundness of the proposed acquirer, in particular in relation to the type of business pursued and envisaged in the undertaking;

(d) whether the undertaking will be able to comply and continue to comply with the prudential requirements of these Regulations, other laws applicable in the State which are adopted pursuant to the Directive, Directive 2002/87/EC or other relevant provisions of the law of the European Union;