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Contents

Long Title

Part I PRELIMINARY

Part II CONDUCT OF INSURANCE BUSINESS

Division 1 — General restriction on insurers

Division 2 — Licensed insurers

Division 3 — Authorised reinsurers

Part IIA FOREIGN INSURER SCHEMES

Part IIB INSURANCE INTERMEDIARIES

Division 1 —  General provisions relating to insurance intermediaries

Division 2 —  Conduct of insurance broking business

Part III RETURNS, INSPECTIONS AND INVESTIGATIONS, WINDING UP AND TRANSFERS OF BUSINESS

Division 1 — Returns

Division 2 — Inspections and Investigations

Division 3 — Powers where licensed insurer or insurance intermediary is unable to meet obligations, etc.

Part IIIA ASSISTANCE TO FOREIGN REGULATORY AUTHORITIES

Part IIIAA TRANSFER OF BUSINESS AND SHARES, RESTRUCTURING OF LICENSED INSURER AND WINDING UP

Division 1 — Voluntary transfer of business

Division 2 — Compulsory transfer of business

Division 3 — Compulsory transfer of shares

Division 4 — Power to restructure capital

Division 5 — Winding up

Division 6 — Miscellaneous

Part IIIB APPEALS

Part IIIC NOMINATION OF BENEFICIARIES

Part IV MISCELLANEOUS AND GENERAL

Division 1 — Administration and enforcement

Division 2 —  Miscellaneous amendments of law

Division 3 —  Supplementary

FIRST SCHEDULE Definition of Insurance Terms

SECOND SCHEDULE Specified Provisions

Legislative History

Comparative Table

 
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On 06/07/2015, you requested the version in force on 06/07/2015 incorporating all amendments published on or before 06/07/2015. The closest version currently available is that of 01/07/2015.
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Exemption
52.
—(1)  The Authority may, by regulations, exempt any person or class of persons from all or any of the provisions of this Act, subject to such terms or conditions as may be prescribed.
[41/2001]
[Act 11 of 2013 wef 18/04/2013]
(1A)  Without prejudice to the generality of subsection (1), the Authority may make regulations to exempt any person or class of persons from section 3 or 35W and, in making these regulations, the Authority may make such provisions as it thinks fit to regulate the person or class of persons, whether by modification of provisions of this Act or by imposing such other requirements or restrictions as may be prescribed.
[23/2003 wef 01/01/2004]
(2)  The Authority may, on the application of any person, exempt the person from all or any of the provisions of this Act or any direction by notice in writing if the Authority considers it appropriate to do so in the circumstances of the case.
[41/2001]
[23/2003 wef 01/01/2004]
(3)  An exemption under subsection (2) —
(a)
may be granted subject to such terms or conditions as the Authority may specify by notice in writing; and
(b)
need not be published in the Gazette.
[41/2001]
(4)  The Authority may at any time —
(a)
revoke any exemption granted under this section; or
(b)
add to, vary or revoke any term or condition prescribed under subsection (1), or imposed under subsection (3) by notice in writing, or prescribe or impose a term or condition where none had been prescribed or imposed earlier.
[Act 11 of 2013 wef 18/04/2013]
History for Provision '52 Exemption'.
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Right Arrow
pr53-.
15/03/1994
Formal Consolidation
15 March 1994
1994 RevEd
 
pr52-.
01/07/2000
Formal Consolidation
01 July 2000
2000 RevEd
 
Compare versionsDiff

08/01/2002
Informal Consolidation
03 December 2001
Amended
Act 41 of 2001

31/12/2002
Formal Consolidation
31 December 2002
2002 RevEd
 
Compare versionsDiff

01/01/2004
Informal Consolidation
09 December 2003
Amended
Act 24 of 2003

01/01/2004
Informal Consolidation
09 December 2003
Amended
Act 23 of 2003

01/01/2011
Informal Consolidation
30 March 2010
Amended
S 184/2010

01/05/2011
Informal Consolidation
29 April 2011
Amended
Act 16 of 2011

18/04/2013
Informal Consolidation
17 April 2013
Amended
Act 11 of 2013