(1) In this Act "main agent", in relation to a society to which section 37(2) or (3) above applies, means a person appointed by the society to be its agent in respect of general business in an EEA State with authority to enter into contracts on behalf of the society in any financial year - (a) without limit on the aggregate amount of premiums; or (b) with a limit in excess of the 10 per cent. of the premium limit as determined in accordance with subsections (3) to (6) below.
(2) A person shall not be regarded as falling within subsection (1)(a) above unless -
(a) the society is of the opinion that the aggregate amount of premiums, on contracts entered into by him on behalf of the society in that year in respect of general business in the EEA State or States concerned, will be in excess of 10 per cent. of the premium limit as determined in accordance with subsections (3) to (6) below; or
(b) the aggregate amount of premiums, on contracts so entered into, actually is in exces