(1) If this paragraph applies to the person concerned, he must, for the purposes of such provisions of this Act as may be specified, satisfy specified additional conditions.
(2) This paragraph applies to a person who—
(a) has his head office outside the EEA [United Kingdom]; and
(b) appears to [such of the FCA or the PRA as may be specified,] to be seeking to carry on a regulated activity relating to insurance business.
(3) “Specified” means specified in, or in accordance with, an order made by the Treasury.
. . .
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