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11.—(1) There is excluded from article 10(1) or (2) the effecting or carrying out of a contract of insurance by an EEA firm falling within paragraph 5(d) of Schedule 3 to the Act—
(a)other than through a branch in the United Kingdom; and
(b)pursuant to a Community co-insurance operation in which the firm is participating otherwise than as the leading insurer.
(2) In paragraph (1), “Community co-insurance operation" and “leading insurer" have the same meaning as in the Council Directive of 30 May 1978 on the co-ordination of laws, regulations and administrative provisions relating to Community co-insurance (No. 78/473/EEC) M1.
Marginal Citations
M1O.J. No. L151, 7.6.1978, p.25.