Past version: effective from 21/10/2015 - 20/10/2015
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A Captive Insurer may not:
(a) treat amounts recoverable from an ISPV as:
(a) an asset; or
(b) reinsurance for the purposes of calculating its liabilities under Contracts of Insurance it has effected; or
(b) otherwise ascribe a value to such amounts,
unless it has first obtained a waiver from the Regulator.