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Insurance Intermediaries Act 1999
(No. 31 of 1999)
Status:
 
Published in Acts Supplement
on 28 Dec 1999
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Table Of Contents
Insurance Intermediaries Act 1999
Status:
 
Published in Acts Supplement
on 28 Dec 1999
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Table of Contents
Insurance Intermediaries Act 1999
(No. 31 of 1999)
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
Insurance Intermediaries Act 1999
Status:
Published in Acts Supplement on 28 Dec 1999
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