(1) Investment firms authorised in other Member States which are to execute client orders or to deal on own account have the right of membership or have access to regulated markets established in Ireland by means of any of the following arrangements:
(a) directly, by setting up branches in the State;
(b) by becoming remote members of or having remote access to regulated markets without having to be established in the State, where the trading procedures and systems of the regulated market in question do not require a physical presence for conclusion of transactions on the market.
(2) No additional regulatory or administrative requirements shall be imposed on investment firms exercising the right conferred by paragraph (1), in respect of matters covered by these Regulations.