1. This Directive shall apply only to those Community co-insurance operations which satisfy the following conditions:
(a) the risk, within the meaning of Article 1(1), is covered by a single contract at an overall premium and for the same period by two or more insurance undertakings, hereinafter referred to as "co-insurers", each for its own part; one of these undertakings shall be the leading insurer;
(b) the risk is situated within the Community;
(c) for the purpose of covering this risk, the leading insurer is authorized in accordance with the conditions laid down in the First Coordination Directive, i.e. he is treated as if he were the insurer covering the whole risk;
(d) at least one of the co-insurers participates in the contract by means of a head office, agency or branch established in a Member State other than that of the leading insurer;
(e) the leading insurer fully assumes the leader's role in co-insurance practice and in particular determines the terms and conditions