In forceAs enactedCurrent version · As enactedSee versions on Attorney General's Chambers(opens the publisher’s site)
International Insurance and Takaful Order, 2002 · As enacted
Official textFrom Attorney General's Chambers, unchanged
No international insurer shall carryon any business activities in Brunei
Darussalam other than its international insurance business or business activities in connection with or for the purposes of such international insurance business.
Notwithstanding the definition of "international insurance business"
and notwithstanding subsection
or any other written law, an international insurer may, with the prior consent of the
Authority and subject to such conditions as its Authority may deem appropriate, deal with the re-insurance of domestic insurance business, including the re-insurance of domestic insurance business transacted in the currency of Brunei Darussalam.
No international insurer shall act on behalf of another international insurer as an international insurance manager or international underwriting manager unless such first-mentioned international insurer has been granted a licence to carry on business as an international insurance manager or international underwriting manager, as the case may be.