OpenLegislation

Paragraph 4 General business

Original text. Later amendments are not shown.

Where a company carrying on credit insurance business is required to increase the amount of units of account pursuant to paragraph 3 above, the company shall have:—

  • a period of three years in which to bring the fund up to 1,000,000 units of account;

  • a period of five years to bring the fund up to 1,200,000 units of account;

  • a period of seven years to bring the fund up to 1,400,000 units of account;

such periods to run from the date on which the criteria set out in paragraph 3 are fulfilled.