PIN 3.5.2

Assets attributable to a Long-Term Insurance Fund may not be transferred so as to be available for other purposes of the Insurer except:

(a) where the transfer constitutes appropriation of a surplus determined in accordance with PIN section 7.3, provided that the transfer is performed within four months of the Reference Date of the actuarial investigation referred to in that Rule;
(b) where the transfer constitutes a payment of dividend or return of capital, in accordance with Rules PIN 3.5.3 and PIN 3.5.4;
(c) where the transfer is made in exchange for other assets at fair value;
(d) where the transfer constitutes reimbursement of expenditure borne on behalf of the Long-Term Insurance Fund, and in respect of expenses attributable to the Long-Term Insurance Fund; or
(e) where the transfer constitutes reattribution of assets attributed to the Long-Term Insurance Fund in error.
Derived from DFSA RM06/2004 (Made 16th September 2004). [VER1/09-04]
[Amended] RM46/2007 (Made 5th July 2007). [VER6/07-07]