Where a captive insurer transfers its portfolio to a third party, prior written approval from the CBB is required. Where all the policyholders affected by the transfer have given their consent in advance, then the disclosure requirements in Paragraph GR-4.2.1 do not apply. The CBB may waive some or all of the requirements in Section GR-4.2 where, in its opinion, they are not necessary in order to protect the interests of policyholders.