PART III Contracts of Long-Term Insurance

8 Applicable law
1 This Part applies to a contract of long-term insurance if—
(a) where the policyholder is an individual, he resides in an EEA State;
(b) otherwise, the establishment of the policyholder to which the contract relates is situated in an EEA State.
2 The applicable law is the law of the EEA State of the commitment unless, if such a choice is permitted under the law of that EEA State, the parties choose the law of another country.
3 If the policyholder is an individual and resides in one EEA State but is a national or citizen of another, the parties to the contract may choose the law of the EEA State of which he is a national or citizen as the applicable law.