Wherever the term ‘financial undertaking’ is used in this Directive, it shall be replaced by:
▼M1 —————
▼B
‘insurance undertaking’ where this Directive amends Directives 73/239/EEC and 92/49/EEC ►M2 ————— ◄;
‘investment firm’ where this Directive amends Directive 93/22/EEC;
‘undertaking for collective investment in transferable securities (Ucits) or an undertaking contributing towards its business activity’ where this Directive amends Directive 85/611/EEC.