TITLE II THE TAKING UP OF THE BUSINESS OF LIFE ASSURANCE

Article 4 Principle of authorisation

The taking up of the activities covered by this Directive shall be subject to prior official authorisation.

Such authorisation shall be sought from the authorities of the home Member State by:

(a)

any undertaking which establishes its head office in the territory of that State;

(b)

any undertaking which, having received the authorisation required in the first subparagraph, extends its business to an entire class or to other classes.