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Application provision

1.1 Unless otherwise stated, this Part applies to:

3.1

01/01/2016

A firm may only take credit for reinsurance (including all contracts of reinsurance with an ISPV and analogous non-reinsurance financing agreements) if and to the extent that there has been an effective transfer of risk from the firm to a third party that is effective in all circumstances in which the firm may wish to rely upon the transfer.