(1) In these Regulations, except where the context otherwise requires, -
"authorisation" means - (a) authorisation granted under these Regulations or under the Regulations of 1976 or the Regulations of 1991 and still in force, or, (b) where the context otherwise requires, authorisation granted by the authority charged by law with the duty of supervising the activities of insurance undertakings in a Member State other than the State in accordance with Article 6 of the First Directive as inserted by Article 4 of the Directive;
"Bank" means the Central Bank of Ireland;
"branch" means an agency or branch of an insurance undertaking or any permanent presence of an undertaking in the State even if that presence does not take the form of an agency or branch but consists merely of an office managed by the insurance undertaking's own staff or by a person who is independent but has permanent authority to act for the insurance undertaking in the same way as an agency;
"carrying on insur
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