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New version applies from 19/12/2002 — introduced by Directive 2002/83/EC. 57 provisions change. Article 9 is deleted from 19/12/2002.

Article 9

Article 9

THE SCHEME OF OPERATIONS REFERRED TO IN ARTICLE 8 (1) (C) AND (2) SHALL CONTAIN THE FOLLOWING PARTICULARS OR EVIDENCE OF COVER:

(A) THE NATURE OF THE COMMITMENTS WHICH THE UNDERTAKING PROPOSES TO COVER; THE GENERAL AND SPECIAL POLICY CONDITIONS WHICH IT PROPOSES TO USE;

(B) THE TECHNICAL BASES THAT THE UNDERTAKING PROPOSES TO EMPLOY FOR EACH CLASS OF BUSINESS, INCLUDING THE DATA NEEDED TO CALCULATE PREMIUM RATES AND RESERVES REFERRED TO IN ARTICLE 17;

(C) THE GUIDING PRINCIPLES AS TO REINSURANCE;

(D) THE ITEMS CONSTITUTING THE MINIMUM OF THE GUARANTEE FUND;

(E) ESTIMATES RELATING TO THE EXPENSES OF INSTALLING THE ADMINISTRATIVE SERVICES AND THE ORGANIZATION FOR SECURING BUSINESS AND THE FINANCIAL RESOURCES INTENDED TO COVER THEM;

AND, IN ADDITION, SHALL INCLUDE FOR THE FIRST THREE FINANCIAL YEARS:

(F) A FORECAST BALANCE SHEET;

(G) A PLAN SETTING OUT DETAILED ESTIMATES OF INCOME AND EXPENDITURE IN RESPECT OF DIRECT BUSINESS, REINSURANCE ACCEPTANCES AND REINSURANCE CESSIONS;

(H) ESTIMATES RELATING TO THE FINANCIAL RESOURCES INTENDED TO COVER UNDERWRITING LIABILITIES AND THE SOLVENCY MARGIN.

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