The Insurance Companies Regulations 1994

Regulation 57

SCHEDULE 12 ASSETS TO BE TAKEN INTO ACCOUNT ONLY TO A SPECIFIED EXTENT

PART I

Descriptions of Asset	Percentage of general business or long term business amount
1.  A piece of land or a number of pieces of such land to which in the most recent proper valuation of such pieces of land an aggregate value is ascribed which is greater than the aggregate of the value of each of such pieces of land valued separately	5%
2.  Debts due, or which will become due, to the insurance company from an individual (other than an individual who is connected with the insurance company within the meaning of section 31(5) of the Act), being debts which are fully secured on any dwelling or any land appurtenant thereto owned or to be purchased by the individual and used or to be used by him for his own residence	1%
3.  Unsecured debts, other than listed debentures or debts from an approved counterparty, which are debts due, or which will become due, (including debts which would become due if the company were to exercise any right to which it is entitled to require payment or repayment of the same) from a regulated institution and any of its connected companies (not being a dependant of the insurance company)	2½%
4.  Unsecured debts, other than listed debentures or debts from a regulated institution, which are debts due, or which will become due, to the insurance company (including debts which would become due if the company were to exercise any right to which it is entitled to require payment or repayment of the same) from— (a) any one company and any of its connected companies (not being a dependant of the insurance company)	1%
(b) any one unincorporated body of persons	1%
5.  Debts due, or which will become due, to the insurance company from an individual (other than debts specified in regulation 48(3) above or paragraph 2 or 4 (b) above)	¼%
6.  The aggregate of debts, other than debentures, of the description in paragraph (4) above	5%
7.  Listed equity shares in any one company and any of its connected companies (not being a dependant of the insurance company)	2½%
8.  Listed shares (including listed equity shares) and listed debentures in any one company and any of its connected companies (not being a dependant of the insurance company or an approved counterparty)	5%
9.  Unlisted shares in and unlisted regulated subordinated debt due from any one company and any of its connected companies (not being a dependant of the insurance company)	1%
10.  The aggregate of unlisted debentures of the descriptions in paragraphs 3 and 4 above and of unlisted shares and debt of the descriptions in paragraph 9 above	10%
11.  Holdings in an authorised unit trust scheme or a recognised scheme (other than a scheme falling within Council Directive 85/611/EEC of 20 December 1985 on the co-ordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities(1))	5%
12.  Subject to paragraph 13 below, shares held in or secured or unsecured debts (including debts which would become due if the company were to exercise any right to which it is entitled to require payment or repayment of the same) or the value of rights under derivative contracts due, or which will become due, from— (a) an individual, or (b) any one company and any of its connected companies (not being a dependant of the insurance company), or (c) any one unincorporated body of persons	5%
13.  Shares, debts and rights under derivative contracts to which the limitations in paragraph 12 apply, the holdings of which exceed 5% but which in aggregate are taken into account for no more than 40% of the business amount	10%
14.  Shares, debts and rights under derivative contracts to which the limitations in paragraph 12 and 13 apply which are issued by any one approved credit institution and any of its connected companies together with deposits held in that institution and any of its connected companies (not being a dependant of the insurance company)	20%
15.  Cash	3%
16.  Computer equipment	5%
17.  Office machinery (other than computer equipment), furniture, motor vehicles and other equipment	2½%

PART II

18.  In this Schedule, a company is connected with another company if it is—

(a) a subsidiary of that other company, or

(b) the holding company of that other company, or

(c) a subsidiary of the holding company of that other company.

(1)

O.J. No. L375, 31.12.85, p.3; Directive last amended by Directive 88/220/EEC (O.J. No. L100, 19.4.88, p.31).