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CA-4.2.2

The net asset value determined in Paragraph CA-4.2.1 must be reduced for any amounts that cannot be made available to the insurance firm in the ordinary course of business. This includes but is not limited to:

(a) Required solvency margins, base capital requirements or any other amounts required to be maintained in order to comply with regulatory requirements applicable to the subsidiary or associate in Bahrain or any other jurisdiction. This restriction applies to any subsidiary or associate (including banks and investment firms) subject to regulation in any jurisdiction;
(b) Assets subject to currency control restrictions; and
(c) Surplus assets in long-term insurance funds, as these assets belong to the long term policyholders.
Amended: January 2007