Related provisions for BIPRU 4.6.35

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BIPRU 5.5.5RRP
For life insurance policies pledged to a lending firm to be recognised the following conditions must be met:(1) the party providing the life insurance must be subject to Directive 2002/83/EC and Directive 2001/17/EC of the European Parliament and of the Council, or is subject to supervision by a competent authority of a third country which applies supervisory and regulatory arrangements at least equivalent to those applied in the Community;11(2) the life insurance policy is openly