1. The insurance company branch established in the State shall start its works in the State within a period not to exceed (60) days as from date of registration of the branch in the register maintained by the Authority. However, the Authority may extend such period for a similar period.
    
2. The Authority's approval to open a branch inside the State for a company established in the State shall be deemed lawfully cancelled should the branch doesn't start its work within the period stated in paragraph (1) of the Article herein or within the extended period as the case might necessitate.