Regulatory Alerts2004-05-25 | 24092Added · Updated
Insurance (Amendment) Act, 2004
This Act transfers the administration of the Insurance Act from the Supervisor to the Central Bank of Trinidad and Tobago and its Board of Directors. It updates definitions, mandates the Central Bank to report annually to Parliament, and grants the Inspector of Financial Institutions specific powers to require information and documents from insurance companies. The legislation also establishes procedures for the Central Bank to manage security deposits, intervene in company operations, and cancel registrations for non-compliance.
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