Authorised insurers
57. Section 22 of the 1986 Act (authorised insurers) shall have effect as if it included provision that an EC company which is authorised in its home State to carry on insurance business which is investment business is an authorised person as respects—
(a)any insurance business—
(i)which it is not precluded by Part I of Schedule 2F to the 1982 Act from carrying on; and
(ii)the carrying on of which constitutes the carrying on of investment business in the United Kingdom;
(b)the provision of any insurance—
(i)which it is not precluded by Part I of Schedule 2F to the 1982 Act from providing; and
(ii)provision of which constitutes the carrying on of investment business in the United Kingdom; and
(c)any other investment business which it is entitled under the law of its home State to carry on.