Regulatory Alerts2017-01-01
Insurance (Amendment) Act 2017 (Appointed Day) (No.1) Order 2018
The Isle of Man Financial Services Authority issued this Order to bring specific provisions of the Insurance (Amendment) Act 2017 into force on 1 February 2018. The designated sections amend definitions of insurance business and persons, establish principal control officers and company secretaries as notifiable roles, and clarify that insurance contracts are not considered gaming or wagering. Additionally, the Order updates regulation-making powers and addresses the continuation or discontinuation of insurance companies.
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