General restriction on insurers
Registration and authorisation of insurers
Deposits, registers of policies and insurance funds
Miscellaneous requirements as to conduct of business
General
Conduct of Insurance Broking Business
Returns
Inspections and Investigations
Division 1 Voluntary scheme for transfer of business
Division 2 Compulsory transfer of business
Division 3 Compulsory transfer of shares
Division 4 Power to restructure capital
Division 5 Winding up
Division 6 Miscellaneous
Administration and enforcement
Miscellaneous amendments of law
Supplementary
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Inspection by Authority |
Investigation by Authority |
40A.—(1) The Authority may conduct such investigation as it considers necessary or expedient for all or any of the following purposes:
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Action by Authority if relevant person unable to meet obligations, etc. |
41.—(1) The Authority may exercise one or more of the powers specified in subsection (2) as appears to it to be necessary where —
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Effect of assumption of control under section 41 |
41A.—(1) Upon assuming control of the relevant business of a registered insurer, the Authority or statutory manager, as the case may be, shall take custody or control of the relevant business. [16/2011 wef 01/05/2011]
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Duration of control |
41B.—(1) The Authority shall cease to be in control of the relevant business of a registered insurer when the Authority is satisfied that the reasons for its assumption of control of the relevant business have ceased to exist or that it is no longer necessary for the protection of the policy owners of the registered insurer. [16/2011 wef 01/05/2011]
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Responsibilities of officers, member, etc., of registered insurer |
41C.—(1) During the period when the Authority or statutory manager is in control of the relevant business of a registered insurer —
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Remuneration and expenses of Authority and others in certain cases |
41D. The Authority may at any time fix the remuneration and expenses to be paid by a registered insurer —
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Moratorium |
41E.—(1) The High Court may, on the application of the Authority, if it considers it to be in the interests of the policy owners of a registered insurer, make one or more of the following orders:
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Interpretation of sections 41 to 41E |
41F. In sections 41 to 41E, unless the context otherwise requires —
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42. [Repealed by Act 16/2011 wef 01/05/2011] |
43. [Repealed by Act 16/2011 wef 01/05/2011] |
44. [Repealed by Act 16/2011 wef 01/05/2011] |
45. [Repealed by Act 16/2011 wef 01/05/2011] |
46. [Repealed by Act 16/2011 wef 01/05/2011] |
47. [Repealed by Act 16/2011 wef 01/05/2011] |
48. [Repealed by Act 16/2011 wef 01/05/2011] |
49. [Repealed by Act 16/2011 wef 01/05/2011] |