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Regulation 4.2 Rule 4

Original text. Later amendments are not shown.

Where, or to the extent that, this Rule applies, the qualifying contract shall be ignored for the purposes of Rule 3, and accordingly—

(a)

premiums paid under that contract shall be ignored for the purposes of paragraph (c) of Rule 3.1., and

(b)

the claims paid, bonuses and rebates and provisions for claims for the purposes of paragraphs (a), (b) and (d) of Rule 3.1. shall be calculated without deduction for reinsurance, so that each such liability shall be calculated gross.