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Application provision

5.1 This Chapter applies to a non-directive insurer (other than a non-directive friendly society).

5.1

01/01/2016

This Chapter applies to a non-directive insurer (other than a non-directive friendly society).

5.2

01/01/2016

If a firm’s capital resources fall below its CR Requirement, it must, within 28 days of becoming aware of this event:

  1. (1) notify the PRA; and
  2. (2) submit a plan for restoration, which:
    1. (a) explains why the firm’s capital resources have fallen below its CR Requirement; and
    2. (b) demonstrates how, if at all, and by when, it expects its capital resources to be restored to its CR Requirement.