PIN 9.4.6

The assets referred to in Rule 9.4.2 must be made available in one of the following two manners or in a combination of those two manners:

(a) assets of a type described in Rule 4.6.3 may be deposited with a custodian nominated or approved in writing by the Regulator; or
(b) a Financial Institution nominated or approved in writing by the Regulator may issue a confirmed letter of credit in favour of the Regulator, for the amount of the assets required to be made available.