This contains UNCERTIFIED COPY for information/reference. For authentic copy, please refer to certified copy only.  In case of any mistake, please bring it to our notice.


LegalB's Resources 
QUICK LINKS: ROOT DATABASE | OVERVIEW | VERSIONS & TEXT ACCESS TIMELINE | SUBORDINATE TEXTS | COMMENTARY | POTENTIAL TRANSGRESSOR LISTS | TEST FOR TRANSGRESSIONS | EMAIL A REQUEST FOR UPDATES | HELP | CONTACT US | SEARCH SITE | LOG OUT |

South Africa
NATIONAL LEGISLATION OVERVIEWS
LegalB Logo
Insurance Laws Amendment Act, No. 27 of 2008

Long title


To amend the Long-term Insurance Act, 1998, so as to substitute certain definitions; to amend certain definitions; to delete certain definitions; to insert certain definitions; to substitute obsolete references; to further regulate the special provisions concerning the powers of the Registrar of Long-term Insurance; to further regulate the appointment of and reporting by an auditor; to further regulate reporting by a statutory actuary, and to make further provision in respect of the attendance of meetings by a statutory actuary; to further regulate the audit committee; to regulate certain acts in respect of providing financial assistance to purchase shares; to further regulate the maintenance of a financially sound condition; to further regulate the holding of assets; to make provision in respect of the kinds and spread of assets; to further regulate investment in derivatives; to provide for reports by experts on returns; to further regulate the awarding of bonuses or similar benefits to policyholders; to further regulate remuneration to intermediaries and to regulate binder agreements; to further regulate limitations on the provisions of certain policies; to further regulate the option for payment of assistance benefits in money; to further regulate the special provisions concerning long-term insurers that are not public companies; to amend the power of the Minister to make regulations; and to amend Schedules 1 and 3 to the Act; to amend the Short-term Insurance Act, 1998, so as to substitute certain definitions; to amend certain definitions; to delete a definition; to insert certain definitions; to substitute obsolete references; to further regulate the special provisions concerning the powers of and reporting by the Registrar of Short-term Insurance; to further regulate the conditions of registration; to further regulate the appointment of and reporting by an auditor; to make provision in respect of the appointment and removal of and reporting by a statutory actuary; to further regulate the audit committee; to regulate certain acts in respect of providing financial assistance to purchase shares; to make provision in respect of the maintenance of a financially sound condition; to further regulate the holding of assets; to make provision in respect of the kinds and spread of assets; to amend the arrangements regarding liabilities; to further regulate investment in derivatives; to provide for reports by experts on returns; to amend and further regulate remuneration to intermediaries and binder agreements; to make textual alterations; to further regulate the special provisions concerning short-term insurers that are not public companies; to amend the power of the Minister to make regulations; to amend Schedules 1, 2 and 3 to the Act; and to provide for matters connected therewith.

Table of contents

SECTION TITLE
1. Amendment of section 1 of Act 52 of 1998...
2. Substitution of section 2 of Act 52 of 1998
3. Amendment of section 4 of Act 52 of 1998...
4. Amendment of section 7 of Act 52 of 1998
5. Amendment of section 10 of Act 52 of 1998...
6. Amendment of section 19 of Act 52 of 1998
7. Amendment of section 20 of Act 52 of 1998
8. Amendment of section 23 of Act 52 of 1998
9. Amendment of section 24 of Act 52 of 1998...
10. Amendment of section 25 of Act 52 of 1998
11. Amendment of section 29 of Act 52 of 1998...
12. Amendment of section 30 of Act 52 of 1998...
13. Amendment of section 31 of Act 52 of 1998...
14. Amendment of section 34 of Act 52 of 1998...
15. Amendment of section 36 of Act 52 of 1998...
16. Substitution of section 46 of Act 52 of 1998
17. Substitution of section 49 of Act 52 of 1998
18. Insertion of section 49A in Act 52 of 1998
19. Substitution of section 53 of Act 52 of 1998
19A. Substitution of section 54 of Act 52 of 1998
20. Amendment of section 66 of Act 52 of 1998
21. Amendment of section 67 of Act 52 of 1998
22. Amendment of section 71 of Act 52 of 1998
23. Amendment of section 72 of Act 52 of 1998
24. Amendment of Schedule 1 to Act 52 of 1998...
25. Amendment of Schedule 3 to Act 52 of 1998...
26. Amendment of Arrangement of Sections of Act 52 of 1998...
27. Amendment of section 1 of Act 53 of 1998...
28. Substitution of section 2 of Act 53 of 1998
29. Amendment of section 4 of Act 53 of 1998...
30. Amendment of section 7 of Act 53 of 1998
31. Amendment of section 10 of Act 53 of 1998
32. Amendment of section 19 of Act 53 of 1998
33. Insertion of section 19A in Act 53 of 1998
34. Substitution of section 20 of Act 53 of 1998
35. Amendment of section 21 of Act 53 of 1998
36. Amendment of section 22 of Act 53 of 1998
37. Amendment of section 23 of Act 53 of 1998...
38. Amendment of section 24 of Act 53 of 1998
39. Substitution of section 28 of Act 53 of 1998
40. Substitution of section 29 of Act 53 of 1998
41. Amendment of section 30 of Act 53 of 1998
42. Amendment of section 32 of Act 53 of 1998
43. Amendment of section 33 of Act 53 of 1998...
44. Amendment of section 35 of Act 53 of 1998
45. Substitution of section 48 of Act 53 of 1998
46. Insertion of section 48A in Act 53 of 1998
47. Amendment of section 57 of Act 53 of 1998
48. Amendment of section 63 of Act 53 of 1998
49. Amendment of section 64 of Act 53 of 1998
50. Amendment of section 65 of Act 53 of 1998
51. Amendment of section 69 of Act 53 of 1998
52. Amendment of section 70 of Act 53 of 1998
53. Amendment of Schedule 1 to Act 53 of 1998...
54. Amendment of Schedule 2 to Act 53 of 1998...
55. Amendment of Schedule 3 to Act 53 of 1998
56. Amendment of Arrangement of Sections of Act 53 of 1998...
57. Short title and commencement

Legislation Text Access Point

Versions
[To check whether a version has commenced, and how it was commenced, please see the Timeline for the Act, and the Annotated Text for the version.]
Access Official Gazette PDF  Request Subscription Fee Subscriber Access
As unamended Act 2008_027_000_20081105 EXT.LINK REQ.INFO LINK
As amended by ...N/AREQ.INFOLINK

* LegalB refers to a "version" of an Act or its sections in the format "YYYY_NNN_SSS_YYYYMMDD", which refers to "YEAR OF ACT_ACT NUMBER_SECTION OF ACT_DATE OF GAZETTE", and where "DATE OF GAZETTE" refers to the "YEAR_MONTH_DAY" on the face of the Gazette in which either the Act was originally published or in which the amending, lapsing or repealing instrument was published. Where any segment of the reference string contains only zeros, it means that information is not relevant, not made available, or unavailable.
* Unbolded grey text in square brackets is additional information provided by LegalB.
* "..." indicates further information not provided by LegalB for purpose of brevity
* An Asterisk indicates uncertainty regarding information, and a double asterisk indicates information must be read in the light of our relevant Commentary.

Copyright Rita V. Felgate 2020