# The Insurance Companies Regulations 1994, Regulation 16: Interpretation: Part IV


In this Part of these Regulations—
“first calculation” and “second calculation” have the meaning given in regulation 18(1) to (3) below;
“implicit items” has the meaning given by regulation 23(5) below and “implicit item” shall be construed accordingly;
“required margin of solvency” means a margin of solvency required by section 32 of the Act;
“zillmerising” means the method known by that name for modifying the net premium reserve method of valuing a long term policy by increasing the part of the future premiums for which credit is taken so as to allow for initial expenses.

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Source: https://www.legislation.gov.uk/uksi/1994/1516/regulation/16 (the official version)
Page: https://openlegislation.uk/insurance-companies-regulations-1994/regulation-16
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.