Comparison View

Formal Consolidation |  2002 RevEd
Form, investment and situation of assets
19.  Regulations made under this Act may make provision for securing that, in such circumstances and to such extent as may be prescribed —
(a)the assets of any insurance fund of a registered insurer are invested in such manner and maintained in such places as may be prescribed; and
(b)the nature of the assets is appropriate in relation to the currency in which the liabilities of the insurer are or may be required to be met.
[11/86]
Informal Consolidation | Amended Act 11 of 2013
Form, investment and situation of assets
19.  The Authority may prescribe or specify in directions, either generally or in such circumstances and to such extent as may be prescribed or specified —
(a)the manner in which the assets of any insurance fund of a licensed insurer are to be invested and the places in which such assets are to be maintained; and
(b)the nature of the assets that is appropriate in relation to the currency in which the liabilities of the insurer are or may be required to be met.
[Act 11 of 2013 wef 18/04/2013]