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For those insurance firmsG granted grandfathering provisions as per Paragraph AU-1.1.15, separate books and records must be maintained in respect of both general and long-term insurance businessG . The transactions relating to each kind of business must be maintained separately. The insurance firmG must maintain such accounting and other records as necessary to identify all assets and liabilities in respect of each kind of business.

Amended: January 2007
(2 Versions)
Up to Jun 30 2007Jul 1 2007 onwards
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