PART 3PRUDENTIAL SUPERVISION AND PASSPORTING
Safeguarding
Power of the Authority to exclude assets23
In exceptional circumstances the Authority may determine that an asset that would otherwise be secure and low-risk for the purposes of paragraph (2) of regulation 21 by virtue of paragraph (6) of that regulation is not such an asset provided that—
a
the determination is based on an evaluation of the risks associated with the asset, including any risk arising from the security, maturity or value of the asset; and
b
there is adequate justification for the determination.