13D. Debt securities
Feedback & supportLast amended by an amending law of 2004.
A Service Company shall value a debt security as follows:
where it is listed on any securities exchange, at its market value; or
where it is not listed on any securities exchange, at its net realisable value.
In determining the net realisable value of a debt security that is not listed on a securities exchange, the Service Company shall take into account —
the prevailing interest rate;
the likelihood of default by the issuer; and
the cash flows that are expected to arise from the debt security.
Subregulation 1
A Service Company shall value a debt security as follows:
where it is listed on any securities exchange, at its market value; or
where it is not listed on any securities exchange, at its net realisable value.
Subregulation 2
In determining the net realisable value of a debt security that is not listed on a securities exchange, the Service Company shall take into account —
the prevailing interest rate;
the likelihood of default by the issuer; and
the cash flows that are expected to arise from the debt security.