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(in the PRA Handbook) PRA controlled function CF12 in the table of PRA controlled functions, described more fully in:(a) for a non-directive insurer, SUP 10B.8.1R(1) and Non-Solvency II Firms - Actuarial Requirements 2.1(1) of the PRA Rulebook;
(b) for a UK Solvency II firm, the Society, a managing agent and a third country branch undertaking, SUP 10B.8.1R(2) and Conditions Governing Business 6.1 of the PRA Rulebook. -
means the date as which the mathematical reserves are calculated.
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means health insurance which meets all the conditions set out in Insurance Company – Capital Resources Requirements 13.1.
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means an investigation to which IPRU(INS) rule 9.4 of the PRA Handbook as at 31 December 2015 applies pursuant to Non-Solvency II Firms – Transitional Measures 3.
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means the Institute and Faculty of Actuaries.
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(1) (other than in COBS) an investigation to which IPRU-INS rule 9.4 applies.(2) (in COBS and SUP 4) for a Solvency II firm, an investigation having regard to generally accepted actuarial practice, carried out at least once in every 12-month period with advice, as appropriate, from the persons holding the with-profits actuary function and the actuarial function.
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(1) (in the FCA Handbook and in relation to an approved person) the functions described in APER 1.1A.2 P, which are in summary:(b) PRA controlled functions; and(c) any other functions in relation to the carrying on of a regulated activity;in relation to the authorised persons in relation to which that person is an approved person.(2) (in the PRA Handbook and in relation to an approved person) the functions described in APER 1.1B.2 P, which are in summary:(c) any other significant-influence functions;in relation to the PRA-authorised persons in relation to which that person is an approved person.
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FCA controlled function CF8 in Parts 1 and Part 2 of the table of FCA controlled functions, described more fully in SUP 10A.7.1 R .
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(a) (in relation to managing investments):(i) arranging settlement;(ii) monitoring and processing corporate actions;(iii) client account administration, liaison and reporting, including valuation and performance measurement;(v) investment trust savings scheme administration;(b) (in relation to effecting or carrying out life policies):(i) new business administration;(iii) preparing projections;(iv) processing claims including pension payments;(v) fund switching;(c) (in relation to the operation of a stakeholder pension scheme):(i) new business administration;(ii) receipt of or alteration to contributions;(iii) preparing projections and annual statements;(iv) administration of transfers;(v) handling claims, including pension payments;(vi) fund allocation and switching.
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the date as at which the mathematical reserves are calculated.
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the Institute andFaculty of Actuaries.
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(in the context of the rules in INSPRU 1.1 concerning the calculation of the general insurance capital requirement), health insurance which meets all the conditions set out in INSPRU 1.1.72 R .