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12.5. Limitations on distributions by AIFC-incorporated Insurers in run-off
FINANCIAL SERVICES LEGISLATION
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INSURANCE AND REINSURANCE PRUDENTIAL RULES
SCHEDULE 2 Categories of Long-Term Insurance
SCHEDULE 6. Prudential returns by Insurers
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12.5. Limitations on distributions by AIFC-incorporated Insurers in run-off

12.5.1. Insurer in run-off not to make distributions

(1) An AIFC-Incorporated Insurer in run-off must not make any distribution to shareholders or members of the Insurer, whether by way of dividends or otherwise, or any payment of management fees (other than fees payable under a contract notified to the AFSA in accordance with PINS 12.4.2), without the written consent of the AFSA.

(2) Any such distribution or return of capital or payment of management fees must be made within the period, if any, specified in the written notice of consent given by the AFSA.