Insurance Act 1966 · 2020 Revised Edition · Part 3 · Returns, Inspections and Investigations, Winding Up and Transfers of Business
106. Remuneration and expenses of Authority and others in certain cases
Feedback & supportLast amended by an amending law of 2013. 2 amendments in all.
The Authority may at any time fix the remuneration and expenses to be paid by a licensed insurer —
to a statutory manager appointed in relation to a licensed insurer, whether or not the appointment has been revoked; and
statutory manager
“statutory manager” means a statutory manager appointed under section 102.[41F
where the Authority has assumed control of the relevant business of the licensed insurer, to the Authority and any person employed or authorised by the Authority under section 137 in relation to its assumption of control of the relevant business, whether or not the Authority has ceased to be in control of the relevant business.[41D
relevant business
“relevant business” means any business of a licensed insurer —(a)which the Authority has assumed control of under section 102; or(b)in relation to which a statutory manager has been appointed under section 102;