Section 5
of International Insurance and Takaful Order, 2002
ORDERIn forceProvision 5 of 73
Section 5
(1)
No person shall carry on or transact or hold himself out as carrying on or transacting any international insurance business unless that person is an IBC (including a
DCC)
, a foreign international company or a company incorporated or registered under the
Companies Act (Chapter 39), and holds a licence under this Order.
(2)
No person shall carry on or transact or hold himself out as carrying on or transacting any business as an international insurance manager, international underwriting manager or international insurance broker unless that person holds a licence under this Order relating to such business.
Criteria for licence to carry on international insurance business.