(1) For the purposes of this Part, in determining the extent to which a security trust fund constitutes an adequate security for the class of insurance liabilities secured by the fund, regard must be had to:
(a) the arrangements relating to the establishment and operation of the fund; and
(b) any ancillary or incidental arrangements.
(2) Subsection (1) does not, by implication, limit the matters to which regard may be had.
(3) A reference in subsection (1) to an ancillary or
incidental arrangement includes a reference to an arrangement for the funding
of a security trust fund.