PIN A5.7.1

Subject to Rules A5.7.2 and A5.7.3, the base cellular capital in respect of a Cell consists of the following capital instruments and equity reserves that are attributable to that Cell:

(a) paid-up Cell Shares, except for shares referred to in Rule A5.10.1(d);
(b) general reserves;
(c) in the Insurance Fund of a Takaful Insurer, where the Insurance Fund is attributable to the Cell, amounts provided from the Owners' Equity by loan to the Insurance Fund and not repaid as at the Solvency Reference Date;
(d) retained earnings;
(e) current year's earnings after tax; and
(f) hybrid cellular capital (as defined in Rule A5.10.1).