(1) The Bank may from time to time make rules providing for the available solvency margin, the required solvency margin and the guarantee fund that an authorised reinsurance undertaking or SPRV established in the State is required to establish and maintain in respect of its finite reinsurance activities.
(2) An authorised reinsurance undertaking or SPRV established in the State that undertakes finite reinsurance activities shall comply with the rules (if any) in force under paragraph (1).
(3) An authorised reinsurance undertaking or SPRV that, without reasonable excuse, fails to comply with paragraph (2) commits an offence.