(1) In conformity with the general good in accordance with the laws of the European Communities, an insurance undertaking shall, in particular, comply with the following criteria -
(a) the provisions of the Consumer Information Act, 1978, applicable to insurance contracts and the marketing and selling of insurance products;
(b) the provisions of the Sale of Goods and Supply of Services Act, 1980, applicable to insurance contracts and the marketing and selling of insurance products;
(c) provisions related to the supervision and regulation of insurance intermediaries under the Insurance Acts and Regulations;
(d) provisions contained in consumer credit legislation adopted by the State;
(e) any other requirements that the Bank may prescribe by regulations for the general good.
(2) Regulations made for the purposes of sub-Article (1)(e) do not take effect until approved by the Minister.
(3) In prescribing regulations for the purposes of sub-Article (1)(e), the Bank shall have regard—
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