41. Section 784 of the Act of 1997 is amended—

(a) in subsection (2)(a)(i), by the insertion of “or, where that person is established in the United Kingdom, is authorised to transact insurance business by the authority in the United Kingdom charged by law with the duty of supervising such persons” after “5 November 2002”, and

(b) in subsection (4A)(i), by the insertion of “or in the United Kingdom, as the case may be,” after “European Communities”.