(1) References to the carrying on of insurance business by way of services into a member State shall be construed as the covering of a risk situated as defined in Article 2(d) of the second Directive by an undertaking through an establishment situated in another member State.
(2) The subsequent Articles shall not apply to transactions, undertakings and institutions referred to in Article 3 (2) of the Principal Regulations nor to the risks to be covered by the Voluntary Health Insurance Board in accordance with the law of the State.
(3) The provisions of these Regulations relating to the carrying on of insurance by way of services shall not apply to risks of a class specified in the Annex as follows:
Class 1 insofar as it relates to accidents at work;
Class 13 insofar as it relates to nuclear civil liability and pharmaceutical products liability;
Classes 9 and 13 insofar as they relate to the compulsory insurance of building works.
(4) An insurance undertaking which has an establis