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12.—(1) The margin of solvency of a society is the excess of the value of its assets over the amount of its liabilities determined in accordance with Part VI and Part VII of these Regulations.
(2) Every authorised society shall maintain a margin of solvency (hereinafter referred to as “the required margin of solvency”) which shall be determined in accordance with the provisions of regulations 13 to 17 below.
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