Requirements for carrying on insurance business
(1) A friendly society to which section 37(2) or (3) above applies shall not carry on direct insurance business of a class or part of a class through an overseas branch in a EEA State other than the United Kingdom unless -
(a) the society is authorised under section 32 above to carry on insurance business of that class or part of a class; and
(b) the requirements of this paragraph have been complied with in relation to that branch.
(2) The requirements of this paragraph are -
(a) that the society has given to the Commission a notice containing both the requisite EC details and the requisite UK details;
(b) that the Commission has given to the supervisory authority in the EEA State in which the overseas branch is to be established ("the EEA State of the branch") -
(i) a notice which contains the requisite EC details; and
(ii) a certificate in accordance with sub-paragraph (3) below; and
(c) that either-
(i) that authority has infor