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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 May 2003 - onwards
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Annex VI Implicit Items

1. This Annex relates to an insurance undertaking which makes an application to the Bank under sub-paragraph (g) of Article 2 of Part A of Annex II to these Regulations. References to implicit items are to amounts relating to future profits, zillmerising and hidden reserves mentioned in that sub-paragraph.

2.

(1) Implicit items shall have no value except with the consent of the Bank given by direction in writing on an application made under sub-paragraph (g) of Article 2 of Part A of Annex II to these Regulations. In pursuance of such a direction implicit items shall be valued in accordance with that sub-paragraph and this Annex to these Regulations.

(2) Article 3 of these Regulations applies to a direction under this Article.

3. The application referred to in Articles 1 and 2 of this Annex shall be accompanied by such information as may be requested by the Bank in order to enable the Bank to decide whether a direction under Article 2 should be issued and in particular shall include th

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