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

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  1. Point in time
    2005-10-20

salvage right

(in LLD) any right of a member under a contract of insurance (and vested in a premium trust fund) to take possession of and to dispose of property because he has made a payment or has become liable to make a payment in respect of a loss to that property.5