30. Section 52 of the Insurance Act is amended by deleting subsection (1) and substituting the following subsections:
“(1) The Authority may, by regulations, exempt any person or class of persons from all or any of the provisions of this Act or any regulations made thereunder, subject to such conditions as may be prescribed.
(1A) The Authority may, on the application of any person, exempt the person from all or any of the provisions of this Act or any regulations made thereunder by notice in writing if the Authority considers it appropriate to do so in the circumstances of the case.
(1B) An exemption under subsection (1A) —
may be granted subject to such terms or conditions as the Authority may specify by notice in writing; and
need not be published in the Gazette.”.