(1) Notwithstanding the provisions of Article 60,
(a) an Irish head office undertaking and a Community branch undertaking shall establish and maintain assets in the State equal to not less than 60 per cent of its combined linked and non-linked liabilities subject to the provision that assets equal to not less than 80% of the undertaking's non-linked liabilities shall be so established and maintained;
(b) an Irish deposit undertaking, a Community deposit undertaking and an External branch undertaking shall establish and maintain assets in the State equal to not less than 100 per cent of its liabilities.
(2) For the purposes of applying paragraph (1) to tangible assets, assets consisting of a claim against a debtor or a listed or unlisted investment, the following assets shall be regarded as being localised in the State -
(a) a tangible asset, where it is situated in the State;
(b) an asset consisting of a claim against a debtor -
(i) in any case where the debtor is an incorporated