(1) Without prejudice to Regulation 110 and Commission Delegated Regulation (EU) 2015/35, for the purposes of these Regulations the following classifications shall be applied:

(a) surplus funds falling under Regulation 106(2) shall be classified in Tier 1;

(b) letters of credit and guarantees which are held in trust for the benefit of insurance creditors by an independent trustee and provided by credit institutions authorised in accordance with Directive 2006/48/EC shall be classified in Tier 2;

(c) any future claims which mutual or mutual-type associations of shipowners with variable contributions solely insuring risks classified under classes 6, 12 and 17 in Part 1 of Schedule 1 may have against their members by way of a call for supplementary contributions, within the following 12 months, shall be classified in Tier 2.