PIN 3.2.5

An Insurer, or a Cell of an Insurer, that is deemed in accordance with Rule 3.2.2(b) or Rule 3.2.3(b) to constitute a single Long-Term Insurance Fund, shall be treated for all purposes relating to these Rules as though the Insurer had established a Long-Term Insurance Fund to which all of the assets and liabilities of the Insurer or of the Cell are attributed.