# The Insurance Companies (Accounts and Statements) (Amendment) Regulations 1997, Regulation 9: Schedule 2 to the 1996 Regulations: general business: revenue account and additional information


In paragraph 24 of Schedule 2 to the 1996 Regulations (underwriting year accounting), for paragraph (b) of sub-paragraph (3) substitute—
“(b) A year is “open” with respect to any business incepting during its period if the provision for outstanding claims in respect of that business is set using the non-annual method and if so set previously has not now been replaced in accordance with the requirements of paragraph 52(4) of the shareholder accounts rules, and “closed year” and “closing a year” shall be construed accordingly.”.

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Source: https://www.legislation.gov.uk/uksi/1997/2911/regulation/9 (the official version)
Page: https://openlegislation.uk/insurance-companies-accounts-and-statements-amendment-regulations-1997/regulation-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.