Section 16
( 1)
of Insurance Regulations, 2006
Subsidiary LegislationIn forceProvision 16 of 42
Section 16
The value of unit trusts and quoted equity shares shall be -
{a) an amount not exceeding the aggregate of the cost of the unit trusts and shares; or
{b) the aggregate of the market value of the unit trusts and shares, whichever is the lower.
(2)
Shares that have been suspended by any stock exchange from trading in excess of 10 consecutive trading days at the date for which the value is to be determined shall be given zero value.
(3}
The value of unquoted equity shares shall be an amount not exceeding the net asset valuation basis.
Corporate bonds and bills of exchange.