2.1.3A Security — General

(1) For the purposes of Article 185(2) of the Insolvency Regulations, a person satisfies the requirement to hold adequate security if the person has either:
(A) adequate and appropriate professional indemnity insurance and adequate and appropriate fidelity insurance that are both acceptable to QFC Authority; or
(B) the person provides a General and Specific Bond as set out in Rules 2.1.4 and 2.3.
(2) For the purposes of Rule 2.1.3A(1)(A), such professional indemnity insurance and fidelity insurance must, for them to be adequate and appropriate, cover, as a minimum, the matters mentioned in Rules 2.1.4 and 2.3.
Inserted (as from 6th June 2017).