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South
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NATIONAL LEGISLATION OVERVIEWS
NATIONAL LEGISLATION OVERVIEWS
Insurance
Laws Amendment Act, No. 27 of 2008
NOTE: Assented to and published in English, with alternative copy in _, except iro notice of assent date _, and excecpt iro title/text/engrossments in the following sections: s_ (_/_/_)
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
Legislation Text Access Point
NOTE: Assented to and published in English, with alternative copy in _, except iro notice of assent date _, and excecpt iro title/text/engrossments in the following sections: s_ (_/_/_)
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 |
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