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Updated 8 Oct 2026, 02:43

Laws
Insurance Order, 2006
s 47

In forceAs enactedCurrent version · As enactedSee versions on Attorney General's Chambers(opens the publisher’s site)

Contents

Insurance Order, 2006

Find in this law

1Citation, commencement and long title
2(1)
3Classification of insurance business and construction of references to matters connected with insurance

4Appointment

5Requirements for carrying on business as insurer
6Holding out as a registered insurer
7Use of word "insurance"
8
9Registration by Authority
10Requirements before registration
11(1)
12(1)
13Cancellation of registration

14
15(1 J An insurer shall not carry on investment-linked insurance business or annuity insurance business in Brunei Darussalam without the app...
16Deposits
17Bank covenants in lieu of deposits
18Requirement in respect of insurance products and policies
19Register of policies
2011)
21Paid-up capital and margins of solvency
22Form, investment and situation of assets
23Requirements as to assets of insurance funds
20thMarchi 2006
24Restrictions on payment of dividends and grant of advance, loan and credit facility
25Disclosure of interest by directors
26(1)
27(1)
28Enforcement of requirements as to registers of policies and insurance funds and payment of levies by insurers
29(1)
30(1)
31
32
33
34Where an insurer issues a life policy which provides that proof of age of the life insured is a condition precedent to the payment of the s...
35(1)
36
37
38Any person who, by any statement, promise or forecast which he knows to be misleading, false or deceptive, by any fraudulent concealment of...
39Requirements as to prospectuses and statements of capital
40
41
42(1)
43Disqualification of managing director, director etc.
44Duty to notify change of controller, managing director, director, chief executive or principal officer
45(1)
46Insurance agents to act only for insurers entitled to carry on business in Brunei Darussalam
47Section 45 shall apply to insurance agents. 1029 Registration of insurance agents.
48
49
50
51
52Sections 40 to 45 shall apply to insurance brokers.
53Registration of insurance brokers
54Insurance brokers in insurance transactions
55
56
57
58Nothing in this Part shall operate to invalidate any policy.

59(1)
60
61
62
63(1)
64Inspections and investigations of affairs of insurers
65(1)
66(1}
67Special provision for insurers directed to cease insurance business

68Priority of claim of policy owners
69
70(1}
71Confirmation of schemes
72(1)
73(1)
74
75(1)
76A letter containing a notice or other document to be served by the Authority under this Order shall be deemed to be properly addressed if i...
77
78(1)
81Notwithstanding any law to the contrary, a person over the age of 10 years shall not by reason only of being under the age of majority lack...
82Every life policy issued shall contain a statement in distinctive type setting forth whether it is or is not a participating policy.
83Life policy moneys to be paid without deduction
84Life policies (surrenders; non-payment of premiums; paid-up policies)
85
86Knowledge of and statement by authorised agent to be deemed knowledge and statement by insurer
87Where there is any conflict or inconsistency between the provisions of this Order and those of the Companies Act (other than s...
88Power to issue guidelines
89Regulations
90Transitional provisions

Schedules

First Schedule Definition of "Associate", "Parent" and Subsidiary Undertakings Part I Associate 1. (1) in This Order, "Associate", in Relat...
SECOND SCHEDULE [Section 3(7)] PAR'fl s ?..rt(o? DEFINITION OF INSURANCE TERMS General. 1. (1) 11Policiesn includes any contract of insuran...
THIRD SCHEDULE [Sections 5(3), 16(7){cJ, 23(3){a} and (4)] BRUNEI DARUSSALAM ASSETS AUTHORISED FOR INSURANCE FUNDS 1. The bonds, debentures...
FOURTH SCHEDULE RETURNS BY INSURERS PART I DOCUMENTS TO BE LODGED YEARLY 1. (1) An insurer, to comply with subsection (1) of section 59...

Insurance Order, 2006 · As enacted

Section 47

No plain-English summary for s 47 yet. See the rest of this law

Official textFrom Attorney General's Chambers, unchanged

Section 45 shall apply to insurance agents.

1029

Registration of insurance agents.

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Part IV

Read on from Part IV

Schedules

Details

Insurance Order, 2006 · s 47

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Where this comes from

Attorney General's Chambers · Insurance Order, 2006, As enacted. Reader record updated on 2 Oct 2026.

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bruneilaws by aturio

Free to read. Laws come from the Attorney General's Chambers of Brunei Darussalam, their official publisher. Check the official version before you rely on it.

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Updated 8 Oct 2026, 02:43