(1) An application for an authorisation may be made to the Bank by a third country undertaking which proposes to establish a branch in the State.
(2) No insurance undertaking to which Articles 63 to 72 apply may carry on both the business of life assurance and the business of non-life insurance of a class referred to in Annex I to the European Communities (Non-Life Insurance) Framework Regulations, 1994.
(3) A branch of a third country undertaking authorised to undertake life assurance in the State may apply to extend its business to any class of life assurance for which it is not authorised.