Regulation 3 Comparison of items in the 2012 periodical return and the 2012 balance sheet
To determine the particular items that when taken together result in the total transitional difference, the insurance company must compare—
the amounts included in the 2012 periodical return for the entry for each category specified in column 1 of the Table, with
the amounts included in the 2012 balance sheet for the entry for that category specified in column 2 of the Table.
The difference between those amounts is the particular item in relation to each category.
This is subject to regulation 5(6).
The comparison must be made separately in relation to with-profits funds and non-profit funds and separately in relation to each with-profits fund.
Where no entry is specified as a comparator in relation to any category, the amount is treated as nil.
In determining the total amount for an entry, assets are given a positive figure and liabilities are given a negative figure.
For the purposes of paragraph (5), amounts in line 51 of Form 14 are treated as liabilities.
If the amount for the entry for a particular category in column 2 exceeds the amount shown in column 1 the particular item is a positive figure.
If the amount for the entry for a particular category in column 1 exceeds the amount shown in column 2, the particular item is a negative figure.