Assurance Companies. (Ch. 31. No. 19.

 

classes of assurance business in the United Kingdom,
and

(0) that the company has complied in relation
thereto with the provisions of the law of the United
Kingdom with respect to deposits and guarantees
by, and minimum paid up share capital and margin
of solvency of, assurance companies from time to time
in force and applicable to such company,

the Governor in Council may, by order published in the
Royal Gazette, declare that the provisions of this section
shall apply in relation to that company.

(2) An order made under this section shall remain
in force so long only as all the circumstances mentioned in
paragraphs (a) and (6) of subsection (1) continue to apply
to the company.

(3) So long as an order under this section is in force
in respect of any company—
(a) nothing in sections 4, 5, 6, 7, 8, 9, 11, 15 and
16 of this Ordinance shall apply to the company;

(6) the company shall deposit annually with the
Colonial Secretary on or before the date generally
prescribed, or in the case of a company in respect of
which a date has been specially prescribed, on or before
that date, a copy of every account, balance sheet,
abstract, statement or other document which the
company is required by the law of the United Kingdom
from time to time in force to deposit with the Board
of Trade, and shall furnish annually to the Colonial
Secretary, on or before the date generally prescribed,
or in the case of a company in respect of which a
date has been specially prescribed, on or before that
date such proof as the Governor in Council may
require, cither generally, or specially in the case of any
individual company, that the circumstances mentioned
in paragraphs (a) and (b) of subsection (1) of this
section continue to apply to the company.

(4) If any assurance company in respect of which
an order under this section is in force fails to comply
with any requirement under this section, the circumstances
mentioned in paragraphs (a) and (0) of subsection (1)

989

Ord. 19-
1947, s. 3.

Ord. 31-
1944, s. 4.

Ord. 19-
1947, s. 3.

Ord. 31-
1944, s. 5.