Reset to Today

To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004.

Content Options:

Add to favourites

View Options:

More Resources:

External link Handbook Publications

Alternative versions

  1. Point in time
    2006-07-07

LLD 24.5 Equalisation provisions

Application of PRU 7.5

LLD 24.5.1R

PRU 7.5 applies to the Society in accordance with LLD 16.3.1 R:

  1. (1)

    with the modification set out in LLD 24.5.2 R; and

  2. (2)

    except PRU 7.5.11 R to PRU 7.5.37 G.

LLD 24.5.2R

The Society must calculate a credit equalisation provision for the aggregate insurance business of all members; it is not required to calculate a credit equalisation provision separately for the business of each member.

LLD 24.5.3R

The Society must allocate the result of LLD 24.5.2 R between itself and each of the members on a fair and reasonable basis.