13B. Recognition and valuation of assets
Feedback & supportLast amended by an amending law of 2018. 3 amendments in all.
Unless otherwise specified in this Part, a Service Company shall value an asset of an insurance fund in accordance with the Accounting Standards.
Unless otherwise specified in any direction issued under the Act, an asset of an insurance fund is to be recognised by a Service Company in accordance with the Accounting Standards.
For the avoidance of doubt, assets comprised in the deposit made and maintained by the administrator under regulation 16 shall not be treated as assets of an insurance fund.
Subregulation 1
Unless otherwise specified in this Part, a Service Company shall value an asset of an insurance fund in accordance with the Accounting Standards.
Subregulation 1A
Unless otherwise specified in any direction issued under the Act, an asset of an insurance fund is to be recognised by a Service Company in accordance with the Accounting Standards.
Subregulation 2
For the avoidance of doubt, assets comprised in the deposit made and maintained by the administrator under regulation 16 shall not be treated as assets of an insurance fund.