GR-1.2.15
Past version: Effective from 01 Jul 2007 to 31 Mar 2012
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Amounts that may be withdrawn from a
(a) Premium monies required to be paid on behalf of the client to (re)insurance firms or other insurance intermediaries for the purchase of contracts of insurance ;
(b) Claim monies received on behalf of the client and required to be paid to the claimant or the person entitled to receive them;
(c) Payments made for the purposes of the client which are incidental to the ordinary transactions of insurance broking business;
(d) Monies drawn on a client's written authority;
(e) Interests received from deposits placed with client account;
(f) Monies required to be withdrawn for settlement of bank charges incurred on a client account; and
(g) Monies which may by mistake or accident have been paid into the account.
Amended: January 2007