Section 23
of International Insurance and Takaful Order, 2002
Section 23
(1)
Every international insurer shall, within 6 months after the close of each financial year or such further period as the Authority may approve, submit to the Authority, in respect of its entire international insurance operations carried on in or from the Brunei
Darussalam, 2 copies each of its audited annual balance sheet, profit and loss account, revenue account and, in respect of its life insurance business, a report setting out the actuarial valuation of its assets and liabilities.
(2)
Every international insurer which is a foreign international company or a company registered under Part IX of the Companies Act (Chapter 39) shall submit to the
Authority 2 copies each of the documents mentioned in subsection (1) as approved in accordance with its constituent documents, as soon as practicable after such approval.
21
BLUV as at 14th January 2016
(3)
Every international insurer which is a foreign international company or a company registered under Part IX of the Companies Act (Chapter 39) shall, in addition to the documents required to be submitted under subsection (1) or (2), also submit each year a certified copy of its latest audited annual balance sheet in respect of its entire operations both in and outside the Brunei Darussalam within 3 months of its being filed with the regulatory authorities in its country or territory of establishment or origin.
(4)
Every licensed international insurance manager, licensed international underwriting manager and licensed international insurance broker shall, within 4 months after the close of each financial year or such further period as the Authority may approve, submit to the Authority 2 copies each of its audited annual balance sheet and profit and loss account.
Subsidiaries and offices of licensee.