PINS 4.5.1 Legal opinions on tier 2 capital instruments

(1) An insurer must obtain a written external legal opinion stating that the requirements in PINS Part 4.4 for any tier 2 capital have been met in relation to any instrument that the insurer is proposing to include as eligible capital.
(2) An insurer must provide copies of the opinions referred to in subrule (1) to the Regulatory Authority if requested by the Regulatory Authority to do so.
Amended by QFCRA RM/2015-3 (as from 1st January 2016).