(1) Where a liquidator of an insurance undertaking has been appointed, the Bank shall withdraw the authorisation of the undertaking in accordance with the procedure laid down in Regulation 153, except to the extent necessary for the purposes of paragraph (2).
(2) The withdrawal of authorisation pursuant to paragraph (1) shall not prevent the liquidator from pursuing some of the activities of the insurance undertaking in so far as that is necessary or appropriate for the purposes of winding-up, provided that such activities are carried on with the consent and under the supervision of the Bank.