Glossary
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| Term | Definition | Legal instruments |
|---|---|---|
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basic own funds 31/12/2020 |
The changes to this defined term are effective from 23:00 on 31/12/2020. (in the Solvency II Firms Sector of the PRA Rulebook): (1) (in relation to a UK Solvency II firm and Lloyd’s), has the meaning given in Own Funds 2.2; or (2) (in relation to an insurance holding company) means an own funds item referred to in Article 88 of the Solvency II Directive, determined in accordance with (1) as if it were a UK Solvency II firm; or (3) (in relation to a third country branch undertaking) means an own funds item referred to in article 88 of the Solvency II Directive, determined in accordance with (1) as if it were a UK Solvency II firm. Additional Notes[Note: Art. 88 of the Solvency II Directive] |
Instruments |