(1) For the purpose of determining whether a holding in an insurance undertaking or reinsurance undertaking -
(a) is a qualifying holding, or
(b) has reached or exceeded or will reach or exceed a prescribed percentage of the capital of or voting rights in the undertaking,
the rules regarding the calculation of voting rights referred to in Articles 9 and 10 of Directive 2004/109/EC and the conditions regarding aggregation of voting rights set out in Article 12(4) and (5) of that Directive shall be taken into account.
(2) For that purpose, voting rights or shares that an investment firm or credit institution holds as a result of providing the underwriting of financial instruments or placing of financial instruments on a firm commitment basis included under point 6 of Section A of Annex 1 to Directive 2004/39/EC shall not be taken into account if those rights or shares are not exercised or otherwise used to intervene in the management of the issuer and are disposed of within one year of a
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