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Article (39): Disposition of the Bank Deposit

The deposit may only be disposed of for the payment of debts arising from insurance operations carried out by the Company; provided that a prior written authorization of the Governor or his representative is obtained.

If the value of the deposit diminishes below the prescribed limit if it is disposed of, the Company shall replenish the deposit amount within a period not exceeding (30) thirty days from the date of the CBUAE’s request to replenish the deposit amount.