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CA-1.2.4

For the purposes of determining an insurance firm's capital available, no value is attributed to any other instrument or resource of an insurance firm other than those identified in Paragraphs CA-1.2.8, CA-1.2.12 and CA-5.1.24 without the consent in writing of the CBB. Without limiting the generality of this Rule, no value is attributed to any of the following:

(a) Any implicit items (which relate to future profits, zillmerising and hidden reserves); and
(b) The unpaid element of any issued shares some or all of which are not 'fully paid' shares.
Amended: October 2009
Amended: January 2007