On 20/06/2013,
you requested for the version in force on 20/06/2013
incorporating all amendments published on or before 20/06/2013.
The closest version currently available is that of 01/04/2010.
6.
—(1) Any item of expenditure not directly attributable to the offshore life business of an approved insurer, and capital allowances and donations, allowable to the approved insurer under the Act, shall be apportioned between such business and the other life insurance business of the approved insurer; and the portion attributable to such business shall be ascertained by using the fraction —
where Po and Pi have the same meanings as in regulation 5.
[S 81/2009, wef Y/A 2005 & Sub Ys/A]
(2) Notwithstanding paragraph (1), where an approved insurer is also an approved captive insurer under regulation 3A or an approved takaful insurer under regulation 3B, any item of expenditure not directly attributable to the offshore captive insurance business, the offshore life tafakul business or the offshore life business of such insurer, and capital allowances and donations allowable to such insurer under the Act, shall be apportioned between such business and the other insurance business of such insurer in the following manner:
(a)
the portion attributable to offshore captive insurance business shall be ascertained by using the fraction —
(b)
the portion attributable to offshore life takaful business shall be ascertained by using the fraction —
(c)
the portion attributable to offshore life business, other than offshore captive insurance business, and offshore life takaful business, shall be ascertained by using the fraction —
where Pc | has the same meaning as in regulation 5A; |
Po and Pi | have the same meanings as in regulation 5(1); and |
Co | has the same meaning as in regulation 5C(1). |