This Instrument introduces new Statutory Returns, in the form set out in the Schedule hereto, which are required to be submitted by authorised non-life insurance undertakings whose head office is established in Ireland or outside the European Union. The provisions of this Instrument, which replace those of the European Communities (Non-Life Insurance Accounts) Regulations, 1977, shall apply in respect of the financial year in which the Instrument is made and all subsequent financial years. The availability of the information contained in the Schedule will enable the Minister for Enterprise and Employment to exercise his supervisory function in accordance with the provisions of the European Communities (Non-Life Insurance) Framework Regulations, 1994 (Statutory Instrument No. 359 of 1994).