This item shall comprise the costs of acquiring insurance policies which are incurred during a financial year but relate to a subsequent financial year ( “deferred acquisition costs”), except in so far as—

1. a

   allowance has been made in the computation of the long term business provision made under paragraph 46 and shown under Liabilities item C2 or D in the balance sheet, for—

   1. i

      the explicit recognition of such costs, or

   2. ii

      the implicit recognition of such costs by virtue of the anticipation of future income from which such costs may prudently be expected to be recovered, or

2. b

   allowance has been made for such costs in respect of general business policies by a deduction from the provision for unearned premiums made under paragraph 44 and shown under Liabilities item C.I in the balance sheet.