Assurance Companies. [Ch. 31. No. 19. 967

 

 

CHAPTER 31. No. 19.

ASSURANCE COMPANIES.

AN ORDINANCE TO REGULATE THE CARRYING ON OF Ordinances

ASSURANCE OR INSURANCE BUSINESS AND FOR PUR- No. ye
POSES INCIDENTAL THERETO. 31-1944.
19-1947.
[29th March, 1943.] Commence-

ment.

1. This Ordinance may be cited as the Assurance Com- Short title.
panies Ordinance.

2. In this Ordinance-

actuary means a Fellow of the Institute of
Actuaries in England, or a Fellow of the Faculty of
Actuaries in Scotland, or an actuary possessing such
other qualifications as may from time to time be
approved by the Governor;

“annuities on human life does not include super-
annuation allowances and annuities payable out of any
fund applicable solely to the relief and maintenance of
persons engaged or who have been engaged in any
particular profession, trade, or employment, or of the
dependants of such persons ;

‘chairman means the person for the time being
presiding over the board of directors or other governing
body of an assurance company;

“Court means the Supreme Court ;

financial year’’ means each period of twelve
months at the end of which the balance of the accounts
of an assurance company is struck or if no such balance
is struck, then the calendar year;

‘‘ policy holder ’’ means the person who for the time

Interpre-
tation.