(1) In these Regulations, except where the context otherwise requires, -

"appointed actuary" means the person appointed to act as actuary to an undertaking to carry out any function relating to the business of that undertaking which is required by the Insurance Acts and Regulations to be undertaken by an actuary, being a Fellow Member of the Society of Actuaries in Ireland;

"authorisation" means - (a) authorisation granted under these Regulations or under the Regulations of 1984 and still in force, or (b) where the context otherwise requires, authorisation granted by the authority charged by law with the duty of supervising the activities of insurance undertakings in a Member State other than the State in accordance with Article 6 of the First Directive as inserted by Article 3 of the Directive;

"Bank" means the Central Bank of Ireland;