(A) - As respects Life Assurance Business.
1. Every underwriter shall deposit and keep deposited in such manner as the Bank may direct a sum of two thousand pounds. The Bank may make rules as to the payment, repayment, investment of, and dealing with, a deposit, the payment of interest and dividends from any such investment, and for any other matters in respect of which they may make rules under section 2(6) of this Act in relation to deposits made by assurance companies. The sum so deposited shall, so long as any liability under any policy issued by the underwriter remains unsatisfied, be available solely to meet claims under such policies.
2. The underwriter shall furnish every year to the Bank a statement in such form as may be prescribed by the Bank showing the extent and character of the life assurance business effected by him.
(B) and (C) - As respects Fire and Accident Insurance Business.
1. Except as hereinafter provided, every underwriter shall comply with the following requir
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