TITLE IITHE TAKING UP OF THE BUSINESS OF INSURANCE

Article 4

Article 6 of Directive 73/239/EEC shall be replaced by the following:

Article 6

The taking up of the business of direct insurance shall be subject to prior official authorization.

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

  1. (a)

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

  2. (b)

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