Insurance (General Provisions and Exemptions for Captive Insurers) Regulations 2018 · As enacted · Part 3 · General Exemptions
6. Exemption from section 31(2) and (5) of Act
Feedback & supportA captive insurer is exempt from section 31(2) of the Act.
A captive insurer is exempt from section 31(5) of the Act if and only if the captive insurer —
notifies the Authority of the appointment of any new director and any change in the appointment of its existing directors as soon as practicable after the appointment or change of appointment, as the case may be; and
provides the Authority with such information relating to the appointment or change of appointment as the Authority may require.
Subregulation 1
A captive insurer is exempt from section 31(2) of the Act.
Subregulation 2
A captive insurer is exempt from section 31(5) of the Act if and only if the captive insurer —
notifies the Authority of the appointment of any new director and any change in the appointment of its existing directors as soon as practicable after the appointment or change of appointment, as the case may be; and
provides the Authority with such information relating to the appointment or change of appointment as the Authority may require.