Division 1 General restriction on insurers
Division 2 Licensed insurers
Division 3 Authorised reinsurers
Division 1 General provisions relating to insurance intermediaries
Division 2 Conduct of insurance broking business
Division 1 Returns
Division 2 Inspections and Investigations
Division 3 Powers where licensed insurer or insurance intermediary is unable to meet obligations, etc.
Division 1 Voluntary transfer of business
Division 2 [Repealed by Act 31 of 2017]
Division 3 [Repealed by Act 31 of 2017]
Division 4 [Repealed by Act 31 of 2017]
Division 5 Winding up
Division 6 Miscellaneous
Division 1 Administration and enforcement
Division 2 Miscellaneous amendments of law
Division 3 Supplementary
| Division 3 — Powers where licensed insurer or insurance intermediary is unable to meet obligations, etc. |
| Action by Authority if relevant person unable to meet obligations, etc. |
| Effect of assumption of control under section 102 |
| 103.—(1) Upon assuming control of the relevant business of a licensed insurer, the Authority or statutory manager (as the case may be) must take custody or control of the relevant business. [16/2011; 11/2013]
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| Duration of control |
| 104.—(1) The Authority must cease to be in control of the relevant business of a licensed 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 licensed insurer. [16/2011; 11/2013]
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| Responsibilities of officers, member, etc., of licensed insurer |
105.—(1) During the period when the Authority or statutory manager is in control of the relevant business of a licensed insurer —
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| Remuneration and expenses of Authority and others in certain cases |
106. The Authority may at any time fix the remuneration and expenses to be paid by a licensed insurer —
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| Moratorium |
107.—(1) The General Division of 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 licensed insurer, make one or more of the following orders:
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| Interpretation of sections 102 to 107 |
108. In sections 102 to 107, unless the context otherwise requires —
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