guarantee fund
- (1)12
- (a) subject to (1)(b), in relation to a firm carrying on general insurance business, the higher of one third of the general insurance capital requirement and the base capital resources requirement applicable to that firm;12
- (2)12
- (a) subject to (2)(b), in relation to a firm carrying on long-term insurance business, the higher of one third of the long-term insurance capital requirement and the base capital resources requirement applicable to that firm;12