(1) Chapter 1 of Part 45 of the Principal Act is amended -

(a) in section 1035 by substituting "Subject to section 1035A, a non-resident person" for "A non-resident person", and

(b) by inserting after section 1035 the following section:

"1035A. Relieving provision to section 1035.

(1) In this section -

'authorised agent' means -

(a) a person acting as an investment business firm, or an authorised member firm -

(i) under an authorisation given by the Central Bank of Ireland under section 10 (1) of the Investment Intermediaries Act 1995 or, as the case may be, section 18 of the Stock Exchange Act 1995 and not subsequently revoked, or

(ii) under an authorisation, which corresponds to either of the authorisations referred to in subparagraph (i), given by a competent authority in another Member State for the purpose of Council Directive 93/22/EEC of 10 May 1931 [OJ No. L.141, of 11 June 1993, p.27.] as amended or extended from time to time, and not subsequently revoked,

or