Paragraph 18 Projections for the United Kingdom

For each of the first three financial years following authorisation, in relation to the business to be carried on in the United Kingdom—

(a)

estimates relating to expenses of management (other than costs of installation) and in particular to current general expenses and commissions,

(b)

‡ estimates relating to premiums or contributions (both gross and net of all reinsurance ceded) and to claims (after all reinsurance recoveries),

(c)

a forecast balance sheet for the proposed branch, and

(d)

the source and nature of the assets which will be used to cover any deficit shown in the forecast balance sheet.

Notes on Schedule 2