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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Recognised Jurisdictions and Funds
Declaration Notices
Financial Markets Tribunal
Archive
Rulebook Modules
Prudential — Insurance Business Module (PIN) [VER15/01-18]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices

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  Versions
(2 versions)
 
Up to Jul 4 2007Jul 5 2007 onwards

PIN 3.5.2



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The definitive version of DFSA handbook text is the PDF version as that is the text of the instrument as made and published by the DFSA.

To view past versions of this module in PDF format, please visit the Archive.

Assets attributable to a Long-Term Insurance FundG may not be transferred so as to be available for other purposes of the InsurerG except:

(a) where the transfer constitutes appropriation of a surplus determined in accordance with PIN section 7.3, provided that the transfer is performed within four months of the Reference DateG of the actuarial investigation referred to in that RuleG ;
(b) where the transfer constitutes a payment of dividend or return of capital, in accordance with Rules PIN 3.5.3 and PIN 3.5.4;
(c) where the transfer is made in exchange for other assets at fair value;
(d) where the transfer constitutes reimbursement of expenditure borne on behalf of the Long-Term Insurance FundG , and in respect of expenses attributable to the Long-Term Insurance FundG ; or
(e) where the transfer constitutes reattribution of assets attributed to the Long-Term Insurance FundG in error.
Derived from DFSA RM06/2004 (Made 16th September 2004). [VER1/09-04]
[Amended] RM46/2007 (Made 5th July 2007). [VER6/07-07]