In forceAs enactedCurrent version · As enactedSee versions on Attorney General's Chambers(opens the publisher’s site)
Insurance Order, 2006 · As enacted · Part III
Insurance Order, 2006 · As enacted · Part III
Official textFrom Attorney General's Chambers, unchanged
The Authority may -
Authority
"Authority" means such person as is appointed by His Majesty the Sultan and Yang Di-Pertuan under subsection 11) of section 4 to be the Authority for the purposes of this Order;
{a} impose conditions of registration on an insurer; or
{b} add to, vary or revoke any conditions of registration of an insurer who is registered under this Order in order for it to remain so registered.
Any insurer which fails to comply with any of the conditions imposed by the Authority under subsection ( 1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000, and in the case of a continuing offence to a further fine not exceeding $1,000 for every day during which the offence continues after conviction.
Registration and annual fees.
Authority
"Authority" means such person as is appointed by His Majesty the Sultan and Yang Di-Pertuan under subsection 11) of section 4 to be the Authority for the purposes of this Order;