CAPI 10.1.3 Contracts effected under existing term

(1) In determining whether a firm is effecting contracts of insurance (or whether a firm has ceased to effect contracts of insurance), contracts of insurance that are effected under a term of an existing contract must be ignored unless the Regulatory Authority decides otherwise in respect of a particular contract.
(2) This rule applies whether the contracts of insurance are effected through a cell or long term insurance fund.
Derived from QFCRA RM/2011-1 (as from 1st July 2011)