http://www.legislation.gov.uk/uksi/2017/1212/regulation/100
The Risk Transformation Regulations 2017
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Statute Law Database
FINANCIAL SERVICES AND MARKETS
2024-05-16
Expert Participation
2023-07-11
These Regulations make provision for transformer vehicles, within the meaning given by section 284A of the Financial Services and Markets Act 2001 (c. 8; section 284A was inserted by section 31 of the Bank of England and Financial Services Act 2016 (c. 14)). They are to be read with the Risk Transformation (Tax) Regulations 2017. Collectively, these Regulations facilitate and regulate the issue of insurance linked securities in the United Kingdom.
The Risk Transformation Regulations 2017
Regulations
Financial Services and Markets Act 2023
Sch. 1
Pt. 2
s. 1(4)
s. 86(3)
The Risk Transformation Regulations 2017
PART 4Protected Cell Companies
CHAPTER 9Shares and shareholders
SECTION 2Issue, allotment and alteration of share capital
Nominal value100
1
A share issued on behalf of a part of a protected cell company must have a fixed nominal value.
2
An allotment of a share that does not have a fixed nominal value is void.
3
Shares issued on behalf of a part of a protected cell company may be denominated in any currency and different classes of shares may be denominated in different currencies.