Insurance Intermediaries Act 1999(No. 31 of 1999)
Table of Contents
Long Title
Enacting Formula
Part I PRELIMINARY
1 Short title and commencement
2 Interpretation
Part II INSURANCE INTERMEDIARY
3 Insurance agent to operate under written agreement
4 Effect of payment to insurance intermediary
5 Disclosure by insurance intermediary and liability of insurer in relation to group policy
6 Representation by insurance intermediary
7 Insurance agent not to act for unregistered insurer
8 Licence to carry on general business with Lloyd’s underwriters
9 Control of brochures used by insurance intermediary
10 General obligation to furnish information
11 Saving for validity of policies, etc.
Part III CONDUCT OF INSURANCE BROKING BUSINESS
12 Insurance broker not to carry on business unless registered
13 Holding out as registered insurance broker
14 Use of words "insurance broking"
15 Examination of document of person suspected of carrying on business as insurance broker
16 Registration of insurance brokers
17 Registration requirements
18 Conditions of registration
19 Annual fees
20 Cancellation of registration
21 Net asset value to be maintained
22 Insurance broking premium accounts
23 Negotiation and placement of risk with unregistered insurer
24 Restriction as to receipt and payment of remuneration
25 Control of take-over of insurance broker
26 Approval of chief executive officer and director of insurance broker
27 Restriction on granting of unsecured loans or advances to director and employee of or adviser engaged by insurance broker
Part IV RETURN, INSPECTION, INVESTIGATION AND WINDING UP
28 Annual account and audit
29 Power to require return of documents under section 28 to be rectified
30 Inspection and investigation of affairs of insurance intermediary
31 Authority may prohibit insurance intermediary from carrying on business
32 Power of Authority to issue direction
33 Winding up
Part V MISCELLANEOUS
34 Appointment of assistants
35 Exemption
36 Service of documents
37 Duty not to furnish false information to Authority
38 Offence by body corporate
39 Jurisdiction of Courts
40 Immunity of Authority and its employees, etc.
41 Regulations
42 Transitional provision