Article 76 - Provisions
(1) In arriving at its Chargeable Profits , an Insurer shall be entitled to a deduction for any specific provisions established in respect of a present obligation arising from a past event, provided that the past event occurred after the commencement date of these Regulations.
(2) In arriving at the Chargeable Profits of an Insurer , no deduction may be allowed in respect of provisions of a general nature or for equalisation or catastrophe reserves established in respect of future events.