(1) An insurance undertaking shall not carry on the business of life assurance unless it is the holder of an authorisation.
(2) An authorisation shall be valid throughout the Member States and shall allow an undertaking to carry on insurance business there by way of services and by way of establishment.
(3) For the purposes of the Insurance Acts and Regulations, an insurance undertaking shall be deemed to be or to have been established in the State if -
(a) it has in the State an office which is open during normal business hours for the transaction of life assurance business for which it is authorised, and
(b) it employs at such office persons duly qualified to carry on the business transacted and empowered to issue cover for the authorised classes and to settle claims.
(a) An insurance undertaking, whose head office is situated in the State, may be authorised to carry on both the business of life assurance and non-life insurance falling within non-life classes 1 and 2, where -
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