The amount of additional capital resources that a firm must hold as a result of an exclusion under IPRU-INV 13.1.21R1 must1 be calculated by referring to the firm's relevant income in the following table:
Relevant income £000s |
Minimum additional capital resources |
|
more than |
up to |
£000s |
(Notes 1 and 2) |
||
0 |
100 |
5 |
100 |
200 |
12 |
200 |
300 |
18 |
300 |
400 |
21 |
400 |
500 |
23 |
500 |
600 |
25 |
600 |
700 |
27 |
700 |
800 |
28 |
800 |
900 |
30 |
900 |
1,000 |
31 |
1,000 |
1,500 |
37 |
1,500 |
2,000 |
42 |
2,000 |
2,500 |
46 |
2,500 |
3,000 |
51 |
3,000 |
3,500 |
55 |
3,500 |
4,000 |
59 |
4,000 |
4,500 |
63 |
4,500 |
5,000 |
67 |
5,000 |
6,000 |
73 |
6,000 |
7,000 |
79 |
7,000 |
8,000 |
85 |
8,000 |
9,000 |
90 |
9,000 |
10,000 |
95 |
10,000 |
100,000 |
95y |
100,000 |
n/a |
950 |
Note 1 - For firms with relevant income of more than £10m but up to £100m value y is calculated by relevant income/ £10m. |
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Note 2 - The calculation of a firm's capital resources is set out in sections 13.1A to 13.151 (see IPRU-INV 13.1.1R1 for application of these sections to an exempt CAD firm or1 a category B firm1). |
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