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CIB 10.4 Limitations on distributions by ADGM Captive Insurers in run-off

Past version: effective from 21/10/2015 - 20/10/2015
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No Captive Insurer that is in run-off may make any distribution of profits or surplus however called or described, or return of capital, or any payment of management fees (other than fees payable under a contract notified to the Regulator in accordance with Rule 10.3.3(2) without the written consent of the Regulator. Any such distribution or return of capital or payment of management fees must be made within the period, if any, specified in the written notice of consent given by the Regulator.