PRU 3.7.2

Past version: effective from 21/10/2015 - 20/10/2015
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An Authorised Person must calculate its Expenditure Based Capital Minimum as:

(a) in the case of an Authorised Person which holds Client Assets or Insurance Money, 18/52;
(b) in the case of an Authorised Person in Category 2, 3A, 3B or 3C which does not hold Client Assets or Insurance Money, 13/52; or
(c) in the case of an Authorised Person in Category 4, which does not hold Insurance Money, 6/52; of the Annual Audited Expenditure, calculated in accordance with Rule 3.7.3.