(1) These Regulations shall apply to the reorganisation measures and winding-up proceedings concerning a branch situated in a Member State of an insurance undertaking whose head office is located outside the Community.
(2) Where an insurance undertaking whose head office outside the Community has branches established in more than one Member State, each branch shall be treated independently with regard to the application of these Regulations but the supervisory authorities, competent authorities, administrators and liquidators involved shall endeavour to coordinate their activities.