Paragraph 5 Meaning of investment and support limit for general insurance companies

that the power to invest in an appropriate general insurance company may be exercised only to the extent that the aggregate shareholding of the society and of its associated bodies and subordinate organisations in that company will not thereby equal or exceed 15 per cent of the equity share capital of that company or otherwise cause the society, or the society and its associated bodies and subordinate organisations in combination, to be a controller of that company for the purposes of the Insurance Companies Act 1982^f1, and

that the power to support an appropriate general insurance company does not include the power to guarantee the discharge of any of its liabilities.