INTRODUCTIONInternational Financial Services Centres Authority (Assets, Liabilities, Solvency Margin and Abstract of Actuarial Report for Life Insurance Business) Regulations, 2023
INTRODUCTIONInternational Financial Services Centres Authority (Assets, Liabilities, Solvency Margin and Abstract of Actuarial Report for Life Insurance Business) Regulations, 2023
Regulation 8 - Power to remove difficulties and relax strict enforcement of the regulations
International Financial Services Centres Authority (Assets, Liabilities, Solvency Margin and Abstract of Actuarial Report for Life Insurance Business) Regulations, 2023 Chapter III MISCELLANEOUS PROVISIONS
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Regulatory clarification and compliance relaxation allow written, fee-based departures from strict requirements to resolve application and interpretation difficulties. The Authority may issue clarifications through guidance notes or circulars to address difficulties in applying or interpreting the regulations. Strict ... Summary
Regulatory clarification and compliance relaxation allow written, fee-based departures from strict requirements to resolve application and interpretation difficulties.
The Authority may issue clarifications through guidance notes or circulars to address difficulties in applying or interpreting the regulations. Strict enforcement of any regulatory provision may be relaxed on an application accompanied by specified non-refundable processing fees, provided the reasons are recorded in writing.
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