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Article 7 - Scheme of operations

Comparing 19/12/2002 → 01/05/2004: 0 added, 0 removed, 7 changed Close comparison

The scheme of operations referred to in Article 6(1)(c) and (4) shall include particulars or evidence of:

(a)((a)) the nature of the commitments which the assurance undertaking proposes to cover;

(b)((b)) the guiding principles as to reassurance;

(c)((c)) the items constituting the minimum guarantee fund;

(d)((d)) estimates relating to the costs of setting up the administrative services and the organisation for securing business and the financial resources intended to meet those costs;

in addition, for the first three financial years:

(e)((e)) a plan setting out detailed estimates of income and expenditure in respect of direct business, reassurance acceptances and reassurance cessions;

(f)((f)) a forecast balance sheet;

(g)((g)) estimates relating to the financial resources intended to cover underwriting liabilities and the solvency margin.

Official text · consolidated version 01/05/2004 (no longer in force) Open full page ↗
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