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Paragraph 10 Premiums

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Notwithstanding the requirements of the shareholder accounts rules, amounts included in Forms 11 and 12 in respect of—

(a)

gross premiums receivable;

(b)

claims paid;

(c)

claims outstanding; and

(d)

reinsurance recoveries,

shall be determined in accordance with Schedules 3 to 5 to the Insurance Companies Regulations.

(2)

Where any amount included in Form 11 or 12 pursuant to paragraph (1) above differs from the aggregate of the corresponding amounts included in Forms 21, 22, 24 and 25, there shall be stated by way of supplementary note to Form 11 or 12, as the case may be—

(a)

the amount of such difference; and

(b)

an explanation for such difference.