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 may be recognised as an eligible unfunded credit protection provider under BIPRU 5.7.1 R;(2) the life insurance policy is openly pledged or assigned to the lending firm;(3) the party providing the life insurance is notified of the pledge or assignment and as a result may not pay amounts payable under the contract without the consent