Related provisions for IPRU-INV 13.13.4

1 - 1 of 1 items.

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(1)
A firm to which MIPRU also applies must calculate its capital resources requirement as in (2).
(2)
The firm must calculate its capital resources requirement as the higher of:
1. (a)
  £20,000; and
2. (b)
  the sum of:
  1. (i)
    the amount that would have applied to it under IPRU-INV 13.13.2R(2)(b) if it were a firm of the type in column (B) of table 13.13.2(2)(b); and
  2. (ii)
    the capital resources requirement in MIPRU 4.2. (Capital resources requirements), after excluding the fixed amounts specified in table 13.13.3(2)(b)(ii).

Table 13.13.3(2)(b)(ii)

This table forms part of IPRU-INV 13.13.3R.

Activity	Provision	Fixed amount
Insurance mediation activity or home finance mediation activity	MIPRU 4.2.11R(1)(a) (firm not holding client money or assets)	£5,000
	MIPRU 4.2.11R(2)(a) (firm holding client money or assets)	£10,000
Home financing and home finance administration (not connected to regulated mortgage contracts)	MIPRU 4.2.12R(1)(a)	£100,000
Home finance administration (with all assets off balance sheet)	MIPRU 4.2.19R(1)	£100,000
Home financing and home finance administration (connected to regulated mortgage contracts)	MIPRU 4.2.23R(1)	£100,000