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Transactions deemed to be assurance business in Saorstát Eireann.
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10.—(1) A Saorstát Eireann company which carries on any class of assurance business shall be deemed, for the purposes of this Act, to carry on assurance business in Saorstát Eireann notwithstanding that the whole or a part of such business is in fact carried on or transacted outside Saorstát Eireann.
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(2) A foreign company which or a person (wherever resident or carrying on business) who issues (otherwise than in the course or by way of re-insurance) a policy, bond, certificate, or other instrument of insurance to a person ordinarily resident in Saorstát Eireann, or issues to any such person a policy, bond, certificate, or other instrument of insurance in respect of a liability, loss, or damage which will arise (if at all) in Saorstát Eireann, or accepts from any person ordinarily resident in Saorstát Eireann a premium in respect of a policy so issued after the commencement of this Part of this Act shall, if the issue of such instrument of insurance or the acceptance of such premium was done in the course and as part of the carrying on of a business which is assurance business within the meaning of this Act, be deemed, for the purposes of this Act, to carry on assurance business in Saorstát Eireann whether such instrument is issued from or such premium is accepted at a place in or a place outside Saorstát Eireann.
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