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Class 1 Captive Cell

A Cell established by a Protected Cell Company to which are attributable assets and liabilities arising out of Insurance Business only in respect of risks related to arising out of the business or operations of members of a Group which together hold a majority of Cell Shares, including for this purpose only contracts of reinsurance in respect of such risks insured by the cedant.

[Added] DFSA RM14/2004 (as from 15th October 2004). [VER2/10-04]