Definitions
2.  In these Regulations, unless the context otherwise requires —
“electronic record” has the same meaning as in section 2 of the Electronic Transactions Act (Cap. 88);
“participating fund” means an insurance fund established and maintained under section 17(2) of the Act which comprises wholly or partly of participating policies;
“policy liabilities”, in relation to an insurance fund, means liabilities in respect of policies for which the insurance fund is established and maintained under section 17 of the Act;
“quarter” means any period of 3 months beginning on 1st January, 1st April, 1st July or 1st October of any year;
“valuation date” means the date on which the assets and liabilities of a captive insurer are valued.