CTHIn ForceAct
Financial Sector Reform (Amendments and Transitional Provisions) Act (No. 1) 1999
73CPurpose of management capital standard
Start here
Get a plain-English read of 73C
Turn the raw legal text into a practical explanation grounded in Financial Sector Reform (Amendments and Transitional Provisions) Act (No. 1) 1999.
73C Purpose of management capital standard
The purpose of the management capital standard is to ensure, as far as practicable, that:
(a) the financial position of a life company reflects an appropriate capital commitment, outside the statutory funds of the company, to the life insurance business of the company; and
(b) a life company will be able to meet its obligations in respect of any business it carries on that is not life insurance business as those obligations fall due.