Insurance Regulations, 2006 · s 23

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s 23

The value of any computer equipment, office machinery, furniture and motor vehicles of an insurer -

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{a) in the financial year of the company in which it is purchased, shall not be greater than three-quarters of the cost thereof to the insurer;

(b)

in the first financial year thereafter, shall not be greater than one-half of that cost;

{c) in the second financial year thereafter, shall be not greater than one-quarter of that cost; and

{d) in any subsequent financial year, shall be left out of accounts for the purposes for which these Regulations apply.

Valuation of assets.