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Insurance Act

LAWS OF SOLOMON ISLANDS

[1996 EDITION]

CHAPTER 82

INSURANCE

ARRANGEMENT OF SECTIONS

SECTION

PART 1
PRELIMINARY

1. SHORT TITLE
2. INTERPRETATION

PART II
ADMINISTRATION

3. APPOINTMENT OF CONTROLLER OF INSURANCE
4. FUNCTIONS
5. INFORMATION TO BE SUPPLIED TO CONTROLLER
6. DIRECTIONS TO INSURERS, AGENTS AND BROKERS
7. EXAMINATION OF INSURER OR DOCUMENTS
8. DOCUMENTS NOT TO BE DESTROYED
9. INVESTIGATION

PART III
REGISTRATION OF INSURERS

10. ONLY A BODY CORPORATE CAN CARRY ON INSURANCE BUSINESS
11. MINISTER MAY EXEMPT CERTAIN CLASS OF INSURANCE
12. QUALIFICATIONS FOR REGISTRATION
13. APPLICATION FOR REGISTRATION
14. REGISTRATION OF APPLICANTS
15. NAME OF INSURER
16. ISSUE OF CERTIFICATE
17. RENEWAL OF REGISTRATION
18. ALTERATIONS IN PARTICULARS
19. CONTROLLER MAY GIVE DIRECTIONS
20. REFUSAL TO REGISTER OR RENEW REGISTRATION
21. CANCELLATION OF REGISTRATION
22. FURTHER PROVISIONS REGARDING CANCELLATION
23. PROHIBITION AFTER CANCELLATION
24. CHANGE IN THE CLASS OF BUSINESS
    

PART IV
DEPOSITS, CAPITAL REQUIREMENTS, MARGIN OF SOLVENCY AND INVESTMENTS

25. DEPOSITS
26. RESERVATION OF DEPOSIT
27. RETURN OF DEPOSIT
28. LOCAL ASSETS
29. MARGIN OF SOLVENCY
30. ORDINARY LIFE INSURER NOT TO TRANSACT OTHER BUSINESS
31. ASSETS TO BE IN THE NAME OF THE INSURER
32. INVESTMENT OF FUNDS

PART V
ACCOUNTS, RECORDS, RETURNS AND REPORTS