(1) In these Regulations, any reference to life assurance business shall, in relation to a Community deposit undertaking, be taken to refer to life assurance business carried on by it through a branch in the State; and accordingly, any reference to, or requirement imposed in respect of the accounts and balance sheets (including any notes, statements, reports and certificates annexed thereto) shall be taken as referring to, or imposing the requirement in respect of business carried on through that branch.
(2) In these Regulations, any reference to life assurance business shall -
(a) in relation to an external branch undertaking, be taken to refer to its entire life assurance business and to any life assurance business carried on by it through an agency or branch in the State; and
(b) in relation to an Irish deposit undertaking, be taken to refer to its entire life assurance business and to any life assurance business carried on by it through an agency or branch in any Member State;
and
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