Section 63

Subject to subsection (3), where an insurer is registered under this Order in respect of either class of insurance business, the insurer shall, until he ceases to be so registered, notify the Authority in writing of any change affecting the insurer’s registration particulars, and shall do so within 3 months of the change taking place.

Where the change results in the amendment of any document, or the replacement of any document by a new document, the insurer shall furnish the Authority with a copy of the document showing the amendments or, as the case may be, with a copy of the new document.

This section shall have effect subject to any prescribed exceptions, and the

Authority may in any particular case dispense (either unconditionally or subject to any conditions) with the furnishing of information under this section about any change.

In this section, “registration particulars” means the documents and information furnished by the insurer to comply with subsection (1) of section 9 when applying to be registered in respect of the class of business in question, or furnished by the insurer to comply with this section in respect thereof.

Any person who fails to comply with this section shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000.

Inspections and investigations

Inspections and investigations of affairs of insurers.