For the purposes of BR-1.2.2, the CBB would usually accept that the financial year end of an overseas insurance licensee would be the same as that of the company itself. The only times that the CBB would be likely to consider allowing an insurance consultant or insurance manager to adopt a financial period of other than 12 months would be the year in which it is authorised (i.e. a period of less than 12 months) or when the company itself changes its reporting period for the purposes of its shareholder accounts.

[Paragraphs BR-1.2.5 to 1.2.27 were deleted in April 2012 as insurance consultants and insurance managers are no longer required to file form IMR nor subject to other reporting requirements, other than those referred to in Paragraph BR-1.2.1].