PIN A5.7 PIN A5.7 Base cellular capital
PIN A5.7 Guidance
The commencement point for calculating the adjusted cellular equity in respect of a
Cellis the base cellular capital in respect of that Cell.
PIN A5.7.1(a) paid-up
Cell Shares, except for shares referred to in PIN Rule A5.10.1(d);(b) general reserves;(c) in the Insurance Fundof a Takaful Insurer, where the Insurance Fundis attributable to the Cell, amounts provided from the Owners' Equityby loan to the Insurance Fundand not repaid as at the Solvency Reference Date;(d) retained earnings;(e) current year's earnings after tax; and(f) hybrid cellular capital (as defined in PIN Rule A5.10.1).
Owners' Equityin a Takaful Insurerother than amounts referred to in PIN Rule A5.7.1(c) must be classified as hybrid capital for the purposes of this section if:(a) under the constitutional documents of the Insureror the terms of insurance contracts or both, participation in the surpluses and losses of Takaful business is limited to the policyholders of the Insurer; and(b) the Owners' Equityis available for loan to the Insurance Fundof the Insurer.
Hybrid cellular capital having a term to maturity of less than five years may only be included in base cellular capital with the consent of the