Business of Insurance)(Amendment) Regulations, 2009

Suppliment tal-Gazzetta tal-Gvern ta’ Malta Nru. 18,420, 15 ta’ Mejju, 2009

L.N. 146 of 2009

INSURANCE BUSINESS ACT

(CAP. 403)

Insurance Business (Continuance of Companies Carrying on

Business of Insurance)(Amendment) Regulations, 2009

IN exercise of the powers conferred by articles 62 and 64 of

the Insurance Business Act, the Minister of Finance, the Economy

and Investment after consultation with the Malta Financial Services

Authority, has made the following regulations:-

The title of these regulations is the Insurance Business Citation.

(Continuance of Companies Carrying on Business of Insurance)

(Amendment) Regulations, 2009, and they shall be read and

construed as one with the Insurance Business (Continuance of

Companies Carrying on Business of Insurance) Regulations, L.N. 335 of 2003.

hereinafter referred to as “the principal regulations”.

Regulation 2 of the principal regulations shall be

amended as follows

(a) in the definition “authorised company”, for

the words “a company authorised to carry on business of

insurance, or to act as an insurance manager under the Act, or

a company enrolled in the Brokers List under article 13 of the

Insurance Brokers and Other Intermediaries Act” there shall Cap. 487.

be substituted the words “a company authorised to carry on

business of insurance under the Act, or a company enrolled

in the Managers List or Brokers List under the Insurance

Intermediaries Act”;

(b) in the definition “business of insurance”,

for the words “the activities of an insurance manager,

and the business of insurance broking carried on by an

enrolled company under the Insurance Brokers and Other

Intermediaries Act”, there shall be substituted the words

“the activities of an insurance manager and the business

of insurance broking carried on under the Insurance

Intermediaries Act”;

0900896 Insurance Companies.indd 1681

(c) in the definition “company”, for the words “ in

respect of an insurance manager and company enrolled in the

Brokers List”, there shall be substituted the words “in respect

of a company enrolled in the Managers List and Brokers

List”.

Regulation 3 of the principal regulations shall be

amended as follows

(a) in subregulation (1) thereof, for the words “the

Insurance Brokers and Other Intermediaries Act”, wherever

they appear, there shall be substituted the words “the

Insurance Intermediaries Act”;

(b) in subregulation (2) thereof, for the words “the

Insurance Brokers and Other Intermediaries Act”, there shall

be substituted the words “the Insurance Intermediaries Act”;

(c) in subregulation (4) thereof, for the words “the

Insurance Brokers and Other Intermediaries Act”, there shall

be substituted the words “the Insurance Intermediaries Act”;

(d) in subregulation (6) thereof, for the words “the

Insurance Brokers and Other Intermediaries Act”, there shall

be substituted the words “the Insurance Intermediaries Act”.

€0.09