Insurance Order, 2006 · As enacted · Part III
9. Registration by Authority
Official textFrom Attorney General's Chambers, unchanged
A person who desires to carry on insurance business in Brunei
insurance business
"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;
Darussalam as insurer shall apply in writing to the Authority for registration under this section and shall furnish such documents and information as may be prescribed or as the Authority may in the particular case require.
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;
Upon receiving and after considering an application under subsection
, the Authority may, subject to section 10, register the company with or without conditions in respect of life insurance or general business, or may refuse to register it.
The Authority shall cause notice of any registration of a Brunei
Darussalam insurer to be published in the Gazette.
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;