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Status: You are viewing the version of the handbook as on 2009-03-31.

GENPRU Sch 2 Notification and reporting requirements

11 The aim of the guidance in the following table is to give the reader a quick overall view of the relevant notification requirements.

2 It is not a complete statement of those requirements and should not be relied on as if it were.

3 Table

Handbook reference

Matter to be notified

Contents of notification

Trigger events

Time allowed

GENPRU 1.5.19 R

Intention to change maximum amount of callable contribution

Fact of intention and details of the change

Intention to change the maximum amount

Adequate advance notice, normally not less than 6 months

GENPRU 2.1.11 R

Breach or expected breach of GENPRU 2.1.13 R or main BIPRU firm Pillar 1 rules

Fact of breach or expectation of breach

Breach or expectation of breach

Immediately

GENPRU 2.2.19 R

Intention to deduct illiquid assets rather than material holdings

Fact of intention

Intention to start or stop using method in column 2

One month prior to change of method

GENPRU 2.2.74 R

Intention to redeem tier one instrument included in tier one capital resources

Fact of intention and details of the firm's position after such redemption in order to show how it will meet the capital resources requirement and how it will have sufficient financial resources to meet the overall financial adequacy rule2

Intention to redeem

At least one month prior to becoming committed to redeem2

2

GENPRU 2.2.135 R

Intention to include an unusual transaction in capital under GENPRU 2.2.124 R

Fact of intention.

Intention to include in capital

At least one month prior to inclusion of that capital in capital resources

GENPRU 2.2.171 R

Proposal to amend a tier two instrument

Details of the proposed amendment

Proposal to amend

One month before amendment is due to take effect

GENPRU 2.2.174 R

Intention to repay (other than on contractual repayment date) tier two instrument

Fact of intention and details of the firm's position after such repayment in order to show 2how it will meet the2 capital resources requirement and how it will have sufficient financial resources to meet the overall financial adequacy rule2

22

Intention to repay

Six Months (in the case of an insurer) 2or one Month (in the case of a BIPRU firm) 2prior to becoming committed to 2repayment

22

GENPRU 2.2.243 R

Intention to pay interest or principal on subordinated debt included in tier three capital resources if the firm's capital resources are less than 120% of its capital resources requirement

Fact of intention

Intention to pay

One month prior to any payment of interest or principal

GENPRU 2.2.245 R

Intention to repay (other than on contractual repayment date) tier three capital resources

Fact of intention and details of how the firm will meet its capital resources requirement after such repayment

Intention to repay

One month prior to repayment