44. Duty to notify change of controller, managing director, director, chief executive or principal officer

A person who becomes or ceases to be controller of an insurer shall, within 7 days from the day following that on which he becomes or ceases to be a controller, notify the insurer in writing of that fact and of such other matters as may be prescribed; and a person who is appointed a managing director, director, chief executive or principal officer of any such insurer shall, within 7 days from the day following that on which he is so appointed, notify the insurer in writing of such matters as may be prescribed.

An insurer shall give notice in writing to the Authority of the fact that any person has become or ceased to be its managing director, director, chief executive or principal officer and of any matter of which such person is required to notify the insurer under subsection ( 1); and the notice shall be given within 14 days from the day following that on which that fact or matter came to the insurer's knowledge.