CAPI 5.1.1 Definitions for chapter 5

For this chapter—

non-cellular assets—see the Companies Regulations, article 157.

non-cellular eligible capital of a QFC captive insurer that is a protected cell company means the insurer's eligible capital calculated in accordance with chapter 3, but excluding—

(a) cell shares (within the meaning given in the Companies Regulations, article 157); and
(b) any capital instruments or equity reserves that are attributable to a cell.

recourse agreement means an agreement under which a cell is entitled to have recourse to non-cellular assets.

Derived from QFCRA RM/2011-1 (as from 1st July 2011)