S.L. 386.16 Art. 31Securitisation cell companies carrying on business as reinsurance special purpose vehicles. S.L. 403.19

(1) A securitisation cell company may only carry on business as a reinsurance special purpose vehicle with the prior authorisation of the competent authority granted in terms of the

Reinsurance Special Purpose Vehicles Regulations, subject to the provisions of this Part.

(2) The competent authority may, from time to time, in such a manner as it deems appropriate:

(a) vary or revoke any term or condition subject to which an authorisation under sub-regulation (1) was granted; and

(b) impose any new term or condition in relation to any such authorisation.