Insurance Order, 2006 · As enacted · Part III
Section 8
Official textFrom Attorney General's Chambers, unchanged
Whenever the Authority has reason to suspect or believe that a person is carrying on insurance business without having been registered under this Order/
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;
he may call for or inspect the books, accounts and records of that person in order to ascertain whether or not that person has contravened any provisions of this
Order.
1003
{2)
Any person who wilfully refuses to submit such books, accounts and records or to allow the inspection thereof shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000, imprisonment for a term not exceeding 12 months or both, and in the case of a continuing offence to a further fine not exceeding $4,000 for every day during which the offence continues after conviction.
Registration of insurers
Terms defined in s 2
Authority
Defined · s 2"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;
insurance business
Defined · s 2"insurance business" includes the business of effecting and carrying out contracts {a} protecting persons against loss or liability to loss in respect of risks to which such persons may be exposed; or {b) to pay a sum of money or render money and includes reinsurance business;