(1) Prior to entering into any transaction of a material nature with a related company or companies, including in particular, the provision of loans to and acceptance of loans from a related company or companies, an insurance undertaking shall submit to the Bank a draft of any contract or agreement which is to be entered into by the insurance undertaking in relation to the transaction.
(2) In this Article -
"related company" has the meaning assigned to it in accordance with Annex III to these Regulations.