SCHEDULES
F2C1SCHEDULE 2A CRITERIA OF SOUND AND PRUDENT MANAGEMENT
Annotations:
Amendments (Textual)
Modifications etc. (not altering text)
C1
Sch. 2A: Power to contract out functions conferred (18.11.1998) by S.I. 1998/2842, arts. 2, 3, Sch. Pt. I para. 56
Business to be conducted in a sound and prudent manner
9
The insurance company shall not be regarded as conducting its business in a sound and prudent manner if it fails to supervise the activities of a subsidiary undertaking—
a
with due care and diligence; and
b
without detriment to the company’s business.
Sch. 2A inserted (1.7.1994) by S.I. 1994/1696, reg. 5(3), Sch. 1