PINS 5.2.3 Treatment of branches

(1) A branch that is subject to a regulatory requirement in another jurisdiction to arrange its affairs in a manner that is equivalent or substantially equivalent to the requirements of this Part, may make an application to the Regulatory Authority for that arrangement of its affairs to be deemed for the purposes of these rules to constitute a long term insurance fund.
(2) If the Regulatory Authority approves that application, it must inform the branch in writing, and must state in its notice to the branch the manner in which the arrangement will be deemed for the purpose of these rules to constitute a long term insurance fund.
Amended by QFCRA RM/2015-3 (as from 1st January 2016).