Insurance Act Extract Sections 64 and 65

NSURANCE 71 (3) Where the Commission is not satisfied, in respect of the applicant as to one or more of the conditions set out in subsection (2), it shall notify the association of underwriters in writing that it proposes to refuse to register it, giving reasons therefor and shall notify it of its right of appeal under section 140. 64. An association of underwriters registered in accordance Documents with this Part (in this Part referred to as a registered association) non to bc shall, within three months after the end of each fmancial year, firnishedto furnish to the Commission- (a) in the case of an association constituted outside Jamaica- (i) 0 and informa￾Cammission. a certified copy of such returns relating to the insurance business of the members during the preceding financial year as are required to be made to the responsible Minister or other public authority in the country in which the association is constituted; a certificate, signed by the chairman or other presiding officer of the association and by or on behalf of the responsible Minister or other public authority, stating whether the association has complied with the requirements of the legislation for the regulation of associations of underwriters in that country; (ii) 0 (iii) the latest annual list of members and the names of its Committee or other governing body; and (iv) a statement of receipt and expenditure by its members in Jamaica during the preceding Year;

72 LVSURANCE (b) in the case of an association constituted in Jamaica, such documents and information as the Commission may require. surpension of re!gyra￾65.-(1) Subject to subsection (2), the Commission may suspend the registration of a registered association in respect of all or any of the classes of business in relation to which it is registered, if it is satisfied that the registered association is in breach of any provision of this Act in circumstances where the breach would constitute a ground for cancellation as specified in section 66. (2) Before taking any action under subsection (1) the Commission shall give written notice to the registered association concerned￾tmn 0 (a) stating its intention to suspend the registered association's registration, giving reasons therefor; (b) stating the right of appeal under section 140; and (c) requiring the registered association to take such action as is specified in the notice to remedy the breach within the time specified; and (4 indicating a period within which the association may make written and oral representations on the intended action. (3) Where a registered association fails to comply with the notice under subsection (2) the Commission may- (a) extend the period specified in that notice and if the breach is not remedied within the extended period, suspend the company's registration; or (6) immediately suspend the registration, 0 Grounds for 66.-( 1) Subject to subsection (2), the Commission may, if at any time it is satisfied that the circumstances specified in that subsection so warrant, give written notice to a registered association stating￾canaellatlon of regimwn lnW lllClUIlDn Ot illli page 15 sulhonzed by L N I12nOO2 I