Clause 16

Every authorised reinsurer shall maintain a reinsurance deposit of a value of such amount as may be prescribed in respect of each class of business for which it is authorised.(2) A deposit under subsection (1) shall be made in such form and manner, and in assets of such nature, as may be prescribed.(3) All income accruing in respect of a deposit under subsection (1) shall be payable to the insurer making the deposit.(4) The Authority may, in relation to a deposit under subsection (1), prescribe —

the rights and obligations of any party in relation to the deposit; and

any other matter which the Authority considers to be incidental to or necessary for this section.”.