Insurance Business (Insurers’ Assets and Liabilities)

Suppliment tal-Gazzetta tal-Gvern ta’ Malta, Nru. 18,010, 19 ta’ Diçembru, 2006

L.N. 324 of 2006

INSURANCE BUSINESS ACT

(CAP. 403)

Insurance Business (Insurers’ Assets and Liabilities)

(Amendment) Regulations, 2006

IN exercise of the powers conferred by articles 11, 14, 16, 17,18,

63 and 64 of the Insurance Business Act, the Prime Minister and the

Minister of Finance, after consultation with the Malta Financial Services

Authority, has made the following regulations>-

(1) The title of these regulations is the Insurance Business Citation and

commencement.

(Insurers’ Assets and Liabilities) (Amendment) Regulations, 2006, and

they shall be read and construed as one with the Insurance Business

(Insurers’ Assets and Liabilities) Regulations, 2004, hereinafter referred L.N. 310 of 2004.

to as “the principal regulations” .

(2) These regulations shall come into force on the 1st

January, 2007.

In paragraph 7 of the Second Schedule to the principal Amends the

Second Schedule

regulations, for the words “50 million Euro” wherever they appear, there to the principal

shall be substituted the words “53.1 million Euro”.

regulations.

In paragraph 6 of the Third Schedule to the principal Amends the

Third Schedule

regulations, for the words “35 million Euro” wherever they appear, there to the principal

shall be substituted the words “37.2 million Euro”.

regulations.

The Fourth Schedule to the principal regulations shall be Amends the

Fourth Schedule

amended as follows>

to the principal

regulations.

(a) in sub-paragraph (b) of paragraph 1 thereof, for the

words “3,000,000 Euro”, there shall be substituted the words

“3,200,000 Euro”<

(b) in paragraph 2 thereof, for the words “2,000,000 Euro”

there shall be substituted the words “2,200,000 Euro”< and

(c) in paragraph 3 thereof, for the words “3,000,000 Euro”

there shall be substituted the words “3,200,000 Euro” .

Amends the

In paragraph 2 of the Ninth Schedule to the principal

Ninth Schedule

regulations, in the definition “general business amount”, for the words

to the principal

regulations.

“500,000 Euro” there shall be substituted the words “the insurer’s

applicable minimum guarantee fund”.

Mitbug[ fl-Istamperija tal-Gvern — Printed at the Government Printing Press