(1) Subject to sub-article (2) of this Article, Part B of Annex II to these Regulations shall apply to an insurance undertaking to which this Article applies.
(2) The amount of a minimum guarantee fund shall not be less than one-half of the minimum required under Article (3) of Part B of Annex II to these Regulations and the deposit lodged under Article 49 (e) of these Regulations shall be reckoned in calculating the amount of a guarantee fund for the purposes of this Article.