145 Requirements in respect of policies of insurance

145  Requirements in respect of policies of insurance

(1)     In order to comply with the requirements of this Part of this Act, a policy of insurance must satisfy the following conditions.

(2)     The policy must be issued by an authorised insurer.

(3)     Subject to subsection (4) below, the policy—

(a)     must insure such person, persons or classes of persons as may be specified in the policy in respect of any liability which may be incurred by him or them in respect of the death of or bodily injury to any person or damage to property caused by, or arising out of, the use of the vehicle on a road [or other public place] in Great Britain, and

[(aa)     must, in the case of a vehicle normally based in the territory of [a] member State, insure him or them in respect of any civil liability which may be incurred by him or them as a result of an event related to the use of the vehicle in Great Britain if,—

(i)     according to the law of that territory, he or they would be required to be insured in respect of a civil liability which would arise under that law as a result of

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