1. EACH MEMBER STATE SHALL MAKE THE TAKING UP OF THE ACTIVITIES REFERRED TO IN THIS DIRECTIVE IN ITS TERRITORY SUBJECT TO AN OFFICIAL AUTHORIZATION.
2. SUCH AUTHORIZATION SHALL BE SOUGHT FROM THE COMPETENT AUTHORITY OF THE MEMBER STATE IN QUESTION BY:
(A) ANY UNDERTAKING WHICH ESTABLISHES ITS HEAD OFFICE IN THE TERRITORY OF SUCH STATE;
(B) ANY UNDERTAKING WHOSE HEAD OFFICE IS SITUATED IN ANOTHER MEMBER STATE AND WHICH OPENS AN AGENCY OR BRANCH IN THE TERRITORY OF THE MEMBER STATE IN QUESTION;
(C) ANY UNDERTAKING WHICH, HAVING RECEIVED THE AUTHORIZATION REQUIRED UNDER (A) OR (B) ABOVE, EXTENDS ITS BUSINESS IN THE TERRITORY OF SUCH STATE TO OTHER CLASSES;
(D) ANY UNDERTAKING WHICH, HAVING OBTAINED, IN ACCORDANCE WITH ARTICLE 7 (1), AN AUTHORIZATION FOR A PART OF THE NATIONAL TERRITORY, EXTENDS ITS ACTIVITY BEYOND SUCH PART.
3. MEMBER STATES SHALL NOT MAKE AUTHORIZATION SUBJECT TO THE LODGING OF A DEPOSIT OR THE PROVISION OF SECURITY.