BCS Products | Segregated Accounts Company
The Segregated Accounts Companies Act, 2004 is a company which may create segregated accounts (each a “Segregated Account”) such that the assets and liabilities of each Segregated Account is separate from the assets and liabilities of each other Segregated Account.
A SAC consists of (i) a general account or core cell (the “General Account”) containing assets and liabilities which are statutorily separated from the assets and liabilities of the other Segregated Accounts and (ii) one or more Segregated Accounts.
Businesses that are engaged in any of the following can use the SAC platform:
- the investment of funds,
- the business of issuing securities,
- insurance business.
A SAC must be incorporated under the Companies Act or the IBC Act prior to its registration as a SAC.