A firm must ensure that assets attributable to a long term insurance fund are not transferred for other purposes of the firm unless the transfer—
(a) is a distribution of a surplus following a surplus determination and the transfer is made within 4 months after the reference date of the relevant financial condition report; or
(b) is a distribution by way of dividend or return of capital, in accordance with rule 8.4.4
(c) is made in exchange for other assets at fair value; or
(d) is a reimbursement of expenditure borne on behalf of the long term insurance fund for expenses attributable to the long term insurance fund; or
(e) is a reattribution of assets attributed to the long term insurance fund in error.
Note Surplus determination, financial condition report and reference date are defined in the glossary.