31. Section 470(1) of the Act of 1997 is amended in the definition of “authorised insurer”—

(a) in paragraph (a)—

(i) by the insertion of “or authorised to carry on such business by the authority in the United Kingdom charged by law with the duty of supervising the activities of undertakings so authorised” after “18 June 1992”, and

(ii) by the insertion of “or in the United Kingdom, as the case may be” after “European Communities”,

and

(b) in paragraph (b)(ii), by the insertion of “, or authorised by the authority in the United Kingdom charged by law with the duty of supervising the activities of undertakings so authorised” after “18 June 1992”.