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Amendments are not highlighted in legislation amended before 2012. We are working on it.
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 insurer, 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)  Notwithstanding paragraph (1), where an approved insurer is also an approved marine hull and liability insurer under regulation 4, an approved captive insurer under regulation 4A , an approved specialised insurer under regulation 4B or an approved takaful insurer under regulation 4C, any item of expenditure not directly attributable to the marine hull and liability business, the offshore captive insurance business, the offshore qualifying specialised insurance business, the offshore general takaful business or the offshore general insurance business of such insurer, and capital allowances and donations allowable to such insurer under the Act, shall be apportioned between such business and the other insurance business of such insurer in the following manner:
(a)the portion attributable to marine hull and liability business shall be ascertained by using the fraction —
Pm + P n
——— ;
Po + P i
[S 79/2009 wef 25/02/2009]
(b)the portion attributable to offshore captive insurance business shall be ascertained by using the fraction —
Pc
——— ;
Po + P i
(c)the portion attributable to offshore qualifying specialised insurance business shall be ascertained by using the fraction —
Ps
———— ;
Po + Pi
(d)the portion attributable to offshore general takaful business shall be ascertained by using the fraction —
UNKNOWN
(e)the portion attributable to offshore general insurance business, other than offshore marine hull and liability business, offshore captive insurance business, offshore qualifying specialised insurance business and offshore general takaful business, shall be ascertained by using the fraction —
UNKNOWN
where
Co
has the same meaning as in regulation 6A(1);
 
Pm and Pn
have the same meanings as in regulation 7(1);
 
Pc
has the same meaning as in regulation 7A(1);
 
Ps
has the same meaning as in regulation 7B(1);and
 
Po and Pi
have the same meanings as in regulation 6(1).