(1) This Regulation applies where a non-life insurance undertaking which intends, under the freedom to provide services, to cover a risk which is situated in the State, other than carrier's liability, classified under class 10 in Part 1 of Schedule 1.
(2) The undertaking shall become a member of, and participate in the financing of, the Motor Insurers' Bureau of Ireland and the national guarantee fund of the State.
(3) The undertaking shall submit a declaration to the Bank attesting that the undertaking has become a member of the Motor Insurers' Bureau of Ireland and the national guarantee fund of the State.
(4) The insurance undertaking shall not be required to make any payment or contribution to the Motor Insurers' Bureau of Ireland or the national guarantee fund of the State otherwise than by reference to its gross premium income in respect of the coverage of risks classified under class 10 of Part 1 of Schedule 1, other than carrier's liability, underwritten in the State by way of
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