Limits of reserve for unexpired risks

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Full Text of the Document

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....which is to be allowed as a deduction under clause (c) of rule 5 of the First Schedule, shall not exceed (a) where the insurance business relates to fire insurance or engineering insurance and which provides insurance for terrorism risks, 100 per cent of the net premium income of such business of the previous year; (aa) where the insurance business relates to fire insurance or miscellaneous in....