1. An insurance operation is a Community co-insurance operation for the purposes of these Regulations if -
(a) it relates to any of the classes specified in paragraph 2 of this Schedule, and
(b) in the case of a risk situated in the State, it meets the criteria specified in paragraph 3 of this Schedule, and
(c) it satisfies all the conditions specified in paragraph 4 of this Schedule.
2. [deleted]
3. The criteria referred to in paragraph 1(b) of this Schedule are:
- The policyholder pursues an independent occupation of a commercial, industrial or professional nature and the risk covered relates to that occupation;
- Large risks as set out in accordance with Article 3A of the Principal Regulations excluding Class 13 insofar as it relates to damage arising from nuclear sources or from medicinal products.
4. The conditions referred to in paragraph 1(c) of this Schedule are -
(a) that the risk is covered by a single contract at an overall premium and for the same period by two or