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Version status: Revoked | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2016 - onwards
  Version 3 of 3    

Regulation 30 Applications to operate SPRVs

Revoked from 1 January 2016

(1) An application for authorisation to operate as a SPRV must -

(a) be lodged with the Bank in writing, and

(b) be accompanied by a copy of the proposed SPRV contract or a statement containing a description of that contract, and

(c) be accompanied by or include satisfactory information about the identities and qualifications of -

(i) the ceding insurance undertaking or reinsurance undertaking under the relevant SPRV contract, and

(ii) the persons (if any) who are or will be appointed to act as trustees of the SPRV's assets, and

(iii) the persons who are or will be officers of the SPRV, and

(iv) those persons who have qualifying holdings (whether direct or indirect) in the SPRV and the amounts of those holdings, and

(v) the persons who are providing or will provide management and other professional services (such as accounting) to the SPRV, and

(d) be accompanied by a copy of the SPRV's memorandum and articles, or proposed memorandum and articles, of association, and

(e) contain s

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