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Formal Consolidation |  2001 RevEd
Apportionment of expenses, allowances and donations
8.—(1)  Any item of expenditure not directly attributable to the offshore general insurance business of an approved insurance company, and capital allowances and donations, allowable to the insurance company under the Act, shall be apportioned between such business and the other general insurance business of the approved insurance company; and the portion attributable to such business shall be ascertained by using the fraction —
UNKNOWN
where Po and Pi have the same meanings as in regulation 6.
(2)  There shall be apportioned between the offshore marine hull and liability business and the other offshore general insurance business of an approved marine hull and liability insurer —
(a)any amount of expenditure, capital allowances and donations apportioned to the offshore general insurance business in accordance with paragraph (1); and
(b)any item of expenditure incurred in respect of both the offshore marine hull and liability business and the other offshore general insurance business, allowable to the insurer under the Act,
and the portion attributable to its offshore marine hull and liability business shall be ascertained by using the fraction —
UNKNOWN
where Pm and Po have the same meanings as in regulation 7.
Informal Consolidation | Amended S 79/2009
Apportionment of expenses, allowances and donations
8.—(1)  Any item of expenditure not directly attributable to the offshore general insurance business of an approved insurance company, and capital allowances and donations, allowable to the insurance company under the Act, shall be apportioned between such business and the other general insurance business of the approved insurance company; and the portion attributable to such business shall be ascertained by using the fraction —
UNKNOWN
where Po and Pi have the same meanings as in regulation 6.
(2)  Nothwithstanding paragraph (1), where an approved insurance company under the Act is also an approved marine hull and liability insurer under regulation 4, any item of expenditure not directly attributable to the marine hull and liability business or the offshore general insurance business of such company, and capital allowances and donations, allowable to such company under the Act, shall be apportioned between such business and the other insurance business of such company in the following manner:
(a)the portion attributable to marine hull and liability business shall be ascertained by using the fraction —
 
Pm + P n ; and
_______
 
Po + P i
(b)the portion attributable to offshore general insurance business, other than offshore marine hull and liability business, shall be ascertained by using the fraction —
 
Po — P m ,
________
 
Po + P i
where Pm and Pn
have the same meanings as in regulation 7(1); and
Po and Pi
have the same meanings as in regulation 6(1)