GENPRU TP 15 Admissible assets

1Application

15.1

R

GENPRU TP 15 applies to an insurer which is not a pure reinsurer.

Duration of transitional

15.2

R

GENPRU TP 15 applies until 30 December 2007.

GENPRU 2 Annex 7R

15.3

R

(1)

In determining whether its assets are admissible assets, instead of applying GENPRU 2 Annex 7 R, a firm may elect to treat as an admissible asset an asset that would have been an admissible asset for the purposes of the Integrated Prudential Sourcebook (PRU) as it was in force on 30 December 2006.

(2)

(1) does not apply when determining whether a derivative or quasi-derivative is an approved derivative or approved quasi-derivative.

(3)

If a firm applies (1) to any of its assets, it must do so for all of its assets except derivatives and quasi-derivatives.