| PART I |
| PRELIMINARY |
| 1. | Citation and commencement |
| 2. | Interpretation: general |
| PART II |
| MARGINS OF SOLVENCY |
| 3. | Application: Part II |
| 4. | Required margin of solvency |
| 5. | Guarantee fund and minimum guarantee fund |
| 6. | Minimum guarantee fund: long term business |
| 7. | Minimum guarantee fund: general business |
| 8. | Valuation of solvency margins |
| 9. | Implicit items: future surpluses |
| 10. | Implicit items: zillmerising |
| 11. | Implicit items: hidden reserves |
| PART III |
| MATCHING AND LOCALISATION |
| 12. | Application: Part III |
| 13. | Matching: general requirement |
| 14. | Matching: property linked benefits |
| 15. | Matching: currency of general business liabilities |
| 16. | Matching: exception for certain general business liabilities |
| 17. | Localisation |
| 18. | Exclusions from regulations 13 and 17 |
| PART IV |
| VALUATION OF ASSETS |
| 19. | Interpretation: Part IV |
| 20. | Application: Part IV |
| 21. | Shares in and debts due or to become due from dependants |
| 22. | Valuation of assets and liabilities of dependants for the purposes of regulation 21 |
| 23. | Debts and other rights |
| 24. | Land |
| 25. | Equipment |
| 26. | Unlisted securities |
| 27. | Unit trusts |
| 28. | Listed investments |
| 29. | Life interests, reversionary interests etc. |
| 30. | Other assets |
| 31. | Assets to be taken into account only to a specified extent |
| PART V |
| DETERMINATION OF LIABILITIES |
| 32. | Interpretation: Part V |
| 33. | Application: Part V |
| 34. | Long term and general business |
| 35. | Long term liabilities |
| 36. | Nature and term of assets |
| 37. | Avoidance of future valuation strain |
| 38. | Valuation of future premiums |
| 39. | Acquisition expenses |
| 40. | Rates of interest |
| 41. | Rates of mortality and disability |
| 42. | Expenses |
| 43. | Options |
| 44. | Contracts not to be treated as assets |
| 45. | No credit for profits from voluntary discontinuance |
| PART VI |
| LINKED LONG TERM CONTRACTS |
| 46. | Application: Part VI |
| 47. | Linked long term contracts |
| PART VII |
| MISCELLANEOUS |
| 48. | Annual actuarial investigation: prescribed societies |
| 49. | Annual investigations: signature of copy of abstract |
