insurance act 1996 (act 553)
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I sura c 1
LAWS OF MALAYSIA
RepRint
A 553
InSurAnce Act 1996 I corporati g all am dm ts up to 1 Octob r 2008
published bythe CommissioneR of law Revision, malaysia
undeR the authoRity of the Revision of laws aCt 19682008
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InSurAnce Act 1996
d R a ... ... ... 13 s r 1996
d c Gaz tt 26 s r 1996
P rev iou s r ePri nts
First R pri t ... ... ... ... ... 2002
S co d R pri t ... ... ... ... ... 2005
Third R pri t ... ... ... ... ... 2006
2
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3
LAWS OF MALAYSIA
A 553
InSurAnce Act 1996
aRRanGement of seCtions
P art i
pReliminaRy
s c
1. s r
2. i r r
3. f c b k
P art ii
liCensinG of insuReR, insuRanCe bRoKeRand adJusteR
4. C c r c
5. b c r c
6. pr r r r c r c
7. pr c r r - k r c
8. ac c g r c
9. pr c rr c
10. h g r r, r c r k r, j r r cr
11. u r r c , r c , r r r r cr
12. i r r c rr r g r
13. l c g r
14. a c r c c15. a c r c c
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4 Laws of Malaysia A ct 553
s c
16. l c c r r r
17. l c c r r c r k r, j r c r
18. m - r c r r r
19. s c
20. R q r r c
21. l c c
22. m r c
23. C c c
24. f r c c
25. d c c26. n x c
27. C c
28. R r c
29. a c g r c r
30. l c c rr xc c
31. R c c c
32. a g r c c c
33. e c r c c c
34. l c r r g z
P art iii
subsidiaRy and offiCe of liCensee
35. s r c
36. o c c37. a c r c 35 r 36
P art iv
insuRanCe fund and shaReholdeRs fund
38. e r c
39. d r c r g r c
40. Cr r c
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I sura c 5
s c
41. a c r c
42. a r c
43. w r r r c
44. v r
45. i
46. m rg c
47. R g r c r g r c
48. d c
49. R r c gr cr c50. s c r r cr c
51. v c r
52. R r c r r c r
53. R r c
54. d c r r cr c
55. d c r c c r
56. s cr r r c r c r
57. R r c
P art v
diReCtion and ContRol of defaultinG insuReR
58. n c -c c rg c
59. ac g r r, r r c r
60. pr r g r c 59(3) r (4)
61. pr r g r r r gr 59(3) (a) r (c)
62. pr r g c r r c 59(4)
63. e c r r r c 59(4)
64. p r c c r c
65. m r r
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P art vi
manaGement of liCensee
s c
66. d c r c r g r
67. acq r ggr g r c r r
68. pr r r c c r
69. pr g r r
70. a r c r, c x c c r, g r r cr r r
71. d q c r c r r 72. e c q c r c r r
73. n c c c
P art vii
auditoR, aCtuaRy and aCCounts
74. a r
75. d q c r76. R r c r
77. C c r
78. a r
79. a r c
80. a r r r
81. a r q r r r
82. a r r r c r r b k
83. a c r r r
84. C c r
85. ac r g r r
86. i r r c r
87. a cc
88. a cc c r r r c r g r r
89. Q r r r r
90. acc g r91. ac r r r c
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I sura c 7
s c
92. a cc , q r r r r c r r r r c
93. R r c 94. s cc
95. ac r cc
96. i c
97. a c
98. l r r r cc g r c r k
P art viii
eXamination
99. ex c
100. d r c r cc c r
101. ex r r c
102. a r c r x r
P art iX
investiGation, seaRCh and seiZuRe
103. a g g c r
104. p r g g c r
105. o r c g g c r
106. R q r r r
107. p r x r
108. a c c c r
109. i g g c r c r c c r
P art X
windinG up of insuReR
110. a c p r
111. R r c g c r r
112. b k r g
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s c
113. n c r g g r c g
114. a c rc c r g
115. a q r
116. C r q r
117. R r q r
118. s r
119. l q r r r cc
120. v
121. t r c
122. a c r c g
123. w r r c r
124. o c r c r, r g r r
125. C
126. w g r
P art XitRansfeR of business
127. i r r p r
128. C r c r c
129. s c
130. a r c
131. n c c
132. m c c
133. p C r c r c
134. b k r r c g
135. e c C r c r
136. R r b k x
137. pr r c
138. l g c
139. tr r r c r k g, j g r c r
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I sura c 9
P art Xii
pRovisions RelatinG to poliCies
s c140. i r c r r
141. a r k
142. pr r r c
143. ac r r r c r
144. pr r r g r c
145. R r r
146. n c r g r g r g147. m g - c c
148. o j c c
149. C r r r , c r r c r
150. d c r
151. K g , , r c g
152. i r r
153. C c r r
154. l c c
155. s rr r c
156. n - c r
157. p r c r c
158. e c r - c
159. a r g c rr c 155, 156 158160. C c r c r r
161. i r c
P art Xiii
payment of poliCy moneys undeR a life poliCyoR peRsonal aCCident poliCy
162. a c p r
163. p r k
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s c
164. R c
165. p c r r 166. tr c
167. n r r c 166(1)
168. a g r g c
169. p c r r
170. p r c c r c
171. d r c c r r
172. t p r r r c r r
P art Xiv
insuRanCe GuaRantee sCheme fund
173. e c r c g r c
174. i
175. b k rr 176. l
177. d c c
178. u
179. R r c
180. d r
181. p r c
182. p c183. a c r
P art Xv
misCellaneous
184. ag , r c r k r c r
185. R r c r c r k r c r
186. i r c r r
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I sura c 11
P art Xvi
GeneRal pRovisions
s c
187. e rc ac
188. R c r ac
189. C
190. n c c r c
191. i
192. a r r
193. s r c
194. s r c c
195. s cr c
196. p r c r
197. d c m r
198. ex
199. a c r
200. n - c ac
201. p r g
202. R g
P art Xvii
offenCes
203. G r
204. C g c
205. o c r r c
206. o c c r r
207. o c
208. J r c
209. s z c
210. arr r k r c
211. p r G r r c c
212. a , c r c
213. pr c
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12 Laws of Malaysia A ct 553
P art Xviii
Repeal and tRansitional pRovisions
s c
214. R g
215. s g r c r r r g r , r c r k r j rc , r r ac
216. a r c c r r c r r gr215(1) (a)
217. C r , r r r c , c c
218. R c c c r -c c c 217
219. a r c c r c r k r r j r c r r gr 215(1) (b)
220. f r g r r r c
221. s g c r r c r r
222. d k c
223. m r c g r c
224. s g r c c
225. pr r r g c
S chedule
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I sura c 13
LAWS OF MALAYSIA
A 553
InSurAnce Act 1996
a ac r r c g r g r c , r c r k g , j g
c r r r r r .
[1 Ja uary 1997, P.U. (B) 580/1996 ]
Be It enActeD s r p k b g y g -p rag g c c d n g r dR k p r , r
, :
P art i
pReliminaRy
Sho i l
1. t ac c i r c ac 1996.
I p a io
2. i ac , c x r r q r
j r r c rr j g r r r r r c r r ;
j g g g c c rc c c r g q
;
r g r r c r r r r c r c r r;
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14 Laws of Malaysia A ct 553
c r c r rc 83(1);
r r r r gr59(4) (a) ;
r c r g Cac 1965 [ Act 125 ];
c , r r ,
(a) r r ;
(b) c c r r c r;
(c) r r r r r ;
(d) r c , r c r r r c r c r r
r ;
b k C r b k C rb k m ac 1958 [ Act 519 ];
c r r r c r r r r r , c r , c r ,
r r r , c r r r r r , c r r , c r r ;
c x c c r, r , , r r j rr r r , r , j c r r c r , r c c r ;
c c g c , -c c r r m r c
m , r r c r c g z c r r m ;
c r k , rx r rc g r r , gr c r r r c g r r c r k r,
c g r c r ;
c g C ac 1965;
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I sura c 15
c c , r , , c r r, r c r c c , r - , r r gr , r r
r , r r c g r g r r c r c c r , r c r
r c ;
c r r, r ,
(a) c x c c r r c r r c r ;
(b) r , r r c ( ) r - r r r g
r ;
( ) r , r c , j r r c r ; r
( ) r c , r c c , r c r r ;
c - r c c - r c r g rr C - r s c ac 1993 [ Act 502 ];
c r r g C ac 1965;
cr c c , r r c c rr r cc , r c r r c ,
r c g g g r r cr c ;
r c r c r cc r c r c r cc r c r c
r r c r c r r c r r cc c r r r c r, r j c r g g, c
(a) c - r c , r r , rr g r g c - r c ;
(b) r , r r , c ,c c r r g r g r;
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16 Laws of Malaysia A ct 553
(c) r r , r r;
(d) - r r r , - r r r;
( ) r , c r gr r , rc r r r c r r , r g r c c r g
r r ;
c g e c ac 1950 [ Act 56 ] c k cc ;
c c g rc ac ;
, r c , c c x cc r;
c r r c rr cr ;
c r r r r cr , r c r c g
r r rr g c r, r r r c r c c rr rk r r r r cc , c rk r
c r , r r r , , r , g , c r r c c r c r r r r c r c , r r r r r ;
c r r gr c :
(a) g c g r r g r c r c ;
(b) r c g r r r c r c ;
(c) rc g r c r c r c r r;
(d) rr g g c r c r c r c r c ;
r ( ) r c r c r cr b k;
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r r c r r r r;
r r g r q r
r ; c , g r
k , r r r r , r r c g ;
c c r c 16 r 17;
c k g b k g f ci ac 1989 [ Act 372 ];
c r c , r c r k g, j g r c r ;
c r r, r c r k r, j r rc r, c r c 16 r 17;
r k g r c ;
c c c c r r r , c g x c r r r cc , r ck c
c r cc c ;
c r r r r c c r r m ;
m c c c m c r r c
(a) c r c r r r r m ;
(b) g r c c r r k r g m ,r r c r r , r r
, m g i c t x ac 1967 [ Act 53 ]; r
(c) r r c c r c r c r r;
rg c rg c r q rr c 46;
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I sura c 19
r, r c
(a) c r r , r r;
(b) c - r c , r c ;
(c) r c r r g r , r ;
(d) r r , r r;
( ) c r g r r s c ac 1966[ Act 335 ], r c ;
m r m r r g c rg r r c ;
- r c g c c c rr g r g r r r c ;
c c r c c , c r cr r c r r r c c c rr ;
c r, r , c c x c c r;
r c g c c c rr g r g r r r c ;
r cc c c r g xc r r r r
g r k r r g j r r g r cc r c g c c c q c
;
c r c c c c r r c r c r c , r r r
c r r r c c , r r c
(a) g c c r r g c r c r c , r r r c r c
;
(b) c r r c c r r c
c r r r , r c r r r r rr r r r r r r;
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c c , r c r r, c c r c ;
c r r g c c
(a) r c g , g ;
(b) r r r c c r,r c r r r g r r c ;
(c) r c r g r , ;
(d) r r c , r r , rr c r r , r r r ;
c r r r c rc c r r r q
r g c r r r;
r r r r c c r r g
r r;
r cr r cr r g Gaz tt , r r cr c r k
r r r g r r r rc r ;
r c g C ac1965;
r r r r r r r c c c rr r r c ;
r r r r r c
(a) r g , r , , c , c - - c , r rr g , r r r r , r r r c g , r r r ;
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I sura c 21
(b) c c x c r c g, g g, g,rr r g, r r r rr g r g
r r r r x c g
c c r r r r r, r c g r g , r r r r r ;
c c c c r r r C ac 1965 r c rr c c r r c ,
r r rr c 15(1) ac ;
r r c r c c r c r r c r r r k , r r , cc
c r rr g r c r r m r c m ( c r r g, r r , r r c );
r c r r g C ac1965;
r , r r ,
(a) r ;(b) r r r r r ;
(c) r r r r r ;
(d) c r c r ;
( ) c r c r ;
(f) r r rr r gr (b), (c),(d) r ( ) ;
(g) c r r rr r gr(b), (c) r (f);
(h) c , r c r , r r ; r
(i) , r c r c , r r rr r gr (h) ;
r ac i r c ac 1963 [ Act 89 ] rr c 214(1);
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I sura c 23
r c c rr c r r ;
(b) g r , c r c c .
(2) f r r ac , r r c r c r r c c
cr c c g r r r.
(3) n g c (1) 39(2), b k r c r r c
g r c r c r cr r c , c r r c g r g g
r c r cr , b k r c r .
B si ss whi h is o i s a b si ss
5. f r r ac , g r c:
(a) r r, r r r , c r rr g k g c rr r r , r r r r c r g r ;
(b) c rr cc r c p r ii s c ac 1966 c
c 2 ac ;
(c) x r cr r cr g r r c c rr m ex r Cr i r c
b r .
P ohibi io o s i io of i s a b si ss
6. t b k, r r r r cr r r r c r , r
r r r c c r r r g r c rr g ccr r c c .
p : i r r r r r r r gg r. d .
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P ohibi io o a i y ai o i v s m -li k d i s ab si ss
7. (1) exc r r r r b k j c c c c , c r r c rr
(a) c r ; r
(b) - k r c .
p : i r r r r r r r gg r. d .
(2) f r r c (1)
(a) c r c r c r r r c r r r r cr;
(b) - k r c c g c rr g c r c r c
r r r , r r , r r r c , r c
r , r r cr r r r c c , r x , r r
cr .
A ivi y o s i i g i s a b si ss
8. (1) f r r ac , r r c c rr g r c c r g:
(a) r c g r r r c ;
(b) g g r r r c r r;
(c) g c ;
(d) c c r r c r c ; r( ) r r c r c c .
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I sura c 25
(2) f r r ac , r r c c rr g r c c c rr g r g g ,
r g ; r r c r c g
c r c r r r r c g , r r c r cg .
P ohibi io o a y o b si ss l ss li s d
9. (1) n r , c r ac , c rr
(a) r c ;
(b) r c r k g ;
(c) j g ; r
(d) c r .
p : i r r i r r r r r gg r . d .
i r c r k r i r r r r r r r gg r . d .
a j r i r r r r r gg r . d .
f c r i r r r r r gg r . d .
(2) p r gr (1) (c)
(a) c , c r r r r r c r j g r c c c
r c c j r;
(b) j r r r ; r
(c) c r r , c r , c r j g r c c
j r.
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(3) p r gr (1) (d)
(a) c r r r c r c r k r;
(b) c r b k g f c i ac 1989;
(c) i c k c r i c b k g ac1983 [ Act 276 ];
(d) k r r r k r k r r t k ac 1984 [ Act 312 ];
( ) r c g r k r r g ;
(f) c r g r r tr C ac
1949 [ Act 100 ];(g) c c r r cc r c c
c rr g c r c c r ;
(h) r r r r r r r r pr g pr
p c ac 1984 [ Act 301 ] r
( ) r r r g r
c, r cr rr rc r r r ;
( ) c g , r r r rr r r g r g
r ;
( ) r r c c r rc r r g g c , r r gr r g g r r r ;
( ) c g , r r r r r r r g c c c r rr r r;
(i) r , r r r rr c r g c r c , r c g rc c , r
( ) r c g r c m ;
( ) c g , r r r r r r r g r g r c ;
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I sura c 27
( ) r r c c r rc r r g g c , r r gr r g g r r r ;
( ) c g , r r r r r r r g c
r r , r r r r c ; r
(j) c r r b k c .
Holdi g o as a i s , i s a b ok , adj s ofi a ial advis
10. n r r r, r cr k r, j r r c r c r
ac .
p : i r r i r r r r r gg r . d .
i r c r k r i r r r r r r r gg r . d .
a j r i r r r r r gg r . d .
f c r i r r r r r gg r . d .
us of h wo ds i s a , ass a , d w i o
fi a ial advis 11. (1) exc r r r r b k
(a) r r c r r c , r c r r r r;
(b) r c r ac c rr c r r cr,
r r g g , r r r g g c g c r c g c rr g c , cr r
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r c c rr r k r r c c , r r, c r r
r r r.
p : f r r gg . d .
(2) s c (1)
(a) r r c q cc rr r cr , r q c
;
(b) c c r c c ;
(c) r c g r g r l i r c a c m r G r i r c a c m r r r c , r c r r r r r gr (1) (a) ;
(d) r r gr 9(3) (a) (d)r r c r
r gr (1) (b).
I s o a y o lif o g al b si ss
12. (1) a c r r, r c rr r r, c rr g r
.
(2) n g c (1), c r r
c rr r g g r ckr g c x j c c r q r c b k r cr .
(3) s c (1) r r c rr g c .
Li si g a ho i y
13. (1) t m r r r c cr z g r c rr r c .
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I sura c 29
(2) t b k r r c cr z g r c rr r c r k g ,
j g r c r .
Appli a fo li
14. n r r c c c rr
(a) r c , c c ;
(b) r c r k g , j g r cr , c ; r
(c) r r r r, c r r .
Appli a io fo li
15. a c r c c r g b k c r r, c c gr c r , c b k.
Li fo i s
16. (1) t b k, r r c g c r c c c rr r c , k r c m r r c c gr r c , , c c .
(2) t m r, r c r g(a) r r c c c c
c r c r m ;
(b) r r r g r c r c c ,
gr c c , r c , r r gr c c .
(3) t b k c r g m r c .
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Li fo i s a b ok , adj s a d fi a ial advis
17. (1) t b k, r c c r c c
c rr r c r k g , j g rc r , gr c c , r c , r r gr c c .
(2) a c c r r c r k r, j r r cr r c r b k c
c c .
Mi im m paid- p sha api al o s pl s of ass s ovliabili i s
18. (1) a c c r r - r c c r cr .
p : t r r gg . d .
(2) a c r g r r m
r r c r cr .
p : t r r gg . d .
(3) a c r c r k r, c j r r cc r -
r c r c r cr .
p : o r r gg . d .
S a m of api al
19. n c r r c , r , r r c c , c g r z
r c r c
cr - .
p : o r r gg .
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I sura c 31
r q i m as o p osp s
20. a c r r , c rc r r r c
(a) b k r r c r g; r
(b) r c c r b k c .
p : f r r gg .
Li f
21. (1) a c , g c , b k c c c , r c c c r r c
r r cr .
(2) a c r r b k
(a) g r b k rc 36 r g c m , r
r c c ;
(b) r r 31 J r r r, r c c r c r c c c r c ,
c , r c c c r r c r m r r cr .
p : f r r gg . d .
M mb ship of asso ia io
22. (1) n c c rr c r c
(a) r r r r c ;
(b) g r r r r g r r c ;
(c) r c r k r ; r
(d) j r ,
c c c r b k.
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(2) n c c c r r r r b k.
p : f r r gg . d .(3) t b k r c c k , r r r r
k g, c c c .
co di io of li
23. t m r, c c r r, r b k, c c r c r k r, c j r r
c c r, (a) c c c ; r
(b) c c c .
Fo m of li
24. (1) a c c c r c b k.
(2) a c c r
(a) m r, c r r; r
(b) G r r, c r c r k r, j rr c r.
Display of li
25. a c c c c rc 24(2) c c r c c x b k r g, c r c , r c r c r .
p : f r r gg .
nam o b affix d o sid offi
26. e r c , x b k r g, x r c c r g g g ,
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c r c b k, r r r r , r k r r r , j r
r r k g r , c , r c
r r c r c r c c .p : f r r gg .
comm m of b si ss
27. (1) a c r r c c c rr c r r
c c .
(2) a c r r c rr c r c c
c r c .
(3) a c r r b k r g r c c g c rr c .
(4) w r c r r c c c rr c x r r c
c (1), c c r k .
r s i io of b si ss
28. (1) exc r r r r b k, c c rr c r m ,
r c c r r r
c .
p : i r r r r r r r gg r. d .
(2) s c (1) c c r c r *C m rk s r c
ac 2007 [ Act 671 ] r c c c r ac .
* nOTe t ac r c s c r i r ac 1983 [ Act 280 ] f ri r ac 1993 [ Act 499 ] . . . 28 s r 2007 xc r d 2 p r vi s
c 381(2) ac 671 p.u. (b) 342/2007.
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Am dm of li si g pa i la s
29. (1) a c k c g
r c r , c g c c , r b k r g r c r r r r r r b k.
p : o r gg .
(2) a c , r r k g c c , r
b k
(a) r c r r g r r c r r c r ;
(b) c c c .
p : o r r gg . d .
Li s d b si ss o b a i d o x l siv ly by li s
30. (1) a c xc g c , xc r b k r g c
x r c r c , r c g r r .
p : t r r gg . d .
(2) n g c (1), c r r
(a) rr g c rr c jr r g r r c r r r c r r r c r r gr ; r
(b) c - r r c r r.
r vo a io of li
31. (1) t m r, r c b k, r k c c c r r, b k r k
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(l) r c .
(2) t m r, r c b k, r k c c c r r
c r r c rr g r r c b k rr c r r c rr g r c 57(3).
(3) w r c c r r k , rc c g r r c gr r r c g c .
(4) t c g r k rr r b k r r c
c .
(5) w r r r r r c b k r c r c (4), m r, r
b k, c , r k c c rc .
(6) w r r r r c , m r, c c r r, r b k, c cr c r k r, c j r r c c r,
r c r g r r , g cr c c .
(7) a r c r c (5), r c rc (6), k c r r r
r r c .
(8) w r m r, c c r r, r b k, c c r c r k r, c
j r r c c r, c r k c c , m r r b k, c , c c r r r c c c c c .
(9) a r c c c Gaz tt
, c r r k c r c r c .
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App al agai s vo a io of li
32. (1) a r r r c c c ,
r r c c m r r c 31(5) r (6), g c C r .
(2) a r c r k r, j r r c r r c c c , r
r c c b k r c31(5) r (6), g c m r.
eff of vo a io of li
33. (1) w r r c c c k c , r r, r c r k r, j r r c r, c , c c rr .
p : i r r i r r r r r gg r . d .
i r c r k r i r r r r r r r gg r . d .
a j r i r r r r r gg r . d .
f c r i r r r r r gg r . d .
(2) t r c c c r j c rc r g r c , r g , r r, r c r k r, j r r c r.
(3) n g r c c c , r r,r c r k r, j r r c r, xc r
m r r c b k r c , c j c ac x
c c c rg g g r r r r r c b k.
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Lis of li s d i s s o b gaz d
34. t b k c Gaz tt c r r r 31 m rc c r r r r r .
P art iii
subsidiaRy and offiCe of liCensee
S bsidia y of li s
35. n c c r r m r cq r r r m r r rr b k.
p : t r r gg . d .
Offi of li s
36. (1) n c c r r m c
r m , c r g r r c m , r r r r b k.
p : o r gg . d .
(2) s c (1) r c c .
Appli a io d s io 35 o 36
37. a c r r b k r c35 r 36 c c r c b k c .
P art iv
insuRanCe fund and shaReholdeRs fund
es ablishm of i s a f d
38. (1) a c r r r r c r m c r r g c .
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(2) a c g r r r r r c r m c r
r g c .
(3) a c r g r r r r r r c r m c
r m g r c .
(4) a r r r c g r r c c r r c c
r g .
p : i r r r r r gg r. d .
(5) n g c (1), (2) (3), b k
(a) g r g r r r g c c r r, c
r r r c r m c r g c ; r
(b) r c c r r r r c r c g r r cr
r c , c c b k c .
p : i r r r r r gg r. d .
D mi a io of poli y la i g o i s a f d
39. (1) w r c r r r c , r r r , r c
(a) c r r, r r c c r c r c r c , c r r , r c , , c , rr c r k , r r r c c r r c ;
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(b) c r r, g, r r k g r, c r r r , r
r c c c r .
(2) w r c r r r c r r c , c r r ac , , c , c r c r r k .
c di i o i s a f d
40. (1) a c r r r c r c r c c c c
r c r c r r rc r k .
(2) a c r r c rr r c c r g r r c.
p : i r r r r r gg r. d .
Appli a io of i s a f d
41. (1) a c r r r c c q r g r r c .
p : i r r r r r gg r. d .
(2) s j c c 122, c r r r c c
x r r r r r c .
p : i r r r r r gg r. d .
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(3) i r r r r c cc r c r r c r c g
c r r, r c c
r c (2), r r r .
(4) f r r c (2), g r c g c :
(a) x r c g c c c r r g r r r c
; r
(b) - r c g c c x c rr g
r g r r r c .
Val a io of ass s a d d mi a io of liabili i s
44. t b k r cr r r
(a) g r c r c r r;
(b) r g r c r
c r r.
I v s m of ass s
45. (1) s j c c (2), c r r c r, c c ,
r cr .
p : i r r r r r r r gg r. d .
(2) t b k r c c r r r g
(a) k c c r cr ;r
(b) r z , r x r c r r cx r b k r , r c r r .
p : i r r r r r r r gg r. d .
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Ma gi of solv y
46. (1) a c r r rg c
r c c c r c c , c r, r cr .
p : i r r r r r gg r. d .
(2) t b k c
(a) c r cr c r r;r
(b) x c r cr cr r,
c k cc r r cr r rg c .
(3) a c r r r r g rg c r c r c rr b k.
(4) s j c c (3), c r g r r r r g rg c , r r ,
r c r r c c c 18(2).
(5) a c r r r r g rg c r c r g r
r c r c
r c .
r gis of poli i s a d gis of laims
47. (1) a c r r cr r cr
(a) r r g r r m c r r g c ;
(b) r r g r r c r m c r c r r g c .
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(2) exc r r r r b k, c r r k r g r r c c
m .
(3) t r r r c r g r
(a) r c , r , r r r, c r r;
(b) r r c c , cr r c g r ,
c r r c c r rr g c r r r
r c c r r c c .
p : o r gg . d .
(4) a c r r, r q r g r c r r c c , r r
r r c r r c c r r g r.
Do m of i l
48. (1) a c r r, c g r c , c r r r
c c g r r g c r r .
p : i r r r r r r r gg r. d .
(2) n g c (1), b k, c c r r, r
j c c c b k c .
(3) t c c (1)
(a) k m c cr r r c k , r r c
r c k c r
r , b k r g r r r c c g c r r ;
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(b) k m , r r b k, c r c c , j c c r , c ; r
(c) k c c c r r,r k, c r r c rr g x r
c r , c c r r b k r g c c b k r q r c c r r r c c r c r c r r r g
x c c .
(4) a c r rr r gr (3) (a) r (b) , r c r c
(a) c c r b k;
(b) c r ,
c b k r c cr r r c c .
p : i r r r r r gg r. d .
r s i io o g a of di fa ili y
49. (1) n c r r r c r c r k r
(a) gr cr c g c r r ;
(b) xc c c c rc c c b k r , gr cr c
( ) r c r r c c r r, cr c c r c r c r xc g rr r c ;
( ) c r r c r r c r r r c r, r r,
c r r, g r r g , r r r c r r r c r c r g r r;
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( ) c c , r r r r c r , r r r
c r r ;
( ) c c r r r c r r c r r
r c r c r k r, c ;
( ) c c c r gr( ) r r r c r
r ;
(c) xc c c c rc c c x
b k r ( ) gr r , r ,
c r cr c ;
( ) c g r r r cr c gr r ;
( ) r r c r r gc ccr r c r r c
c r c r r
r r c r r ; r( ) rr g r
c r gr ( ), ( ) r ( ).
p : i r r r r r gg r. d .
(2) f r r c (1), r c r c r r c r.
S i y fo di fa ili y
50. (1) n c r r r c r c r k r, xc c c c rc c , c , b k r , g r cr c
cr c g r r c r g r r c c r r cr c
b k r cr .
p : i r r r r r r r gg r. d .
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(2) w r r g c rr c cr c , c r cr r r
r cr r c (1), c r r r c
r c r k r r q r rr r r c r c c (1) r cr r b k r .
p : o r gg . d .
(3) w r c r r q r r c (2) r c r , c r r
r c r c r k r k r c r
g cr c .
(4) f r r c (1), g r g r r cr r .
Val a io of s i y
51. t r r c r c r
c r r r c r c r k r
(a) rk ; r
(b) r r r r rk , r b k
c r k g c r c rr c
r .
r s i io o p ohibi io of s i y
52. t b k, r c r r r cr c r k r, r cr
(a) r r c r c j c c r c rr r , r c r r , r c r ; r
(b) r r c r r r , r c r r , r r g r c r .
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r s i io o ass s
53. n c r r r c r c r k r, xc
r r r r b k, g r c rg r c r .
p : i r r r r r r r gg r. d .
Dis los of i s i di fa ili y
54. (1) a r c r, r c x c c r, c r r,r c r c r k r, r g r r rr c g cr c , r , r c r r c , cr c r c r r r c r c
r k r, r r c g cr c , k c r r r c r c r k r,
c , c r r g r x r rr r r cr c .
p : i r r r r r r r gg r. d .
(2) f r r c (1), r c r r c r c r r, r cr c r k r, c , c
r cr c c , r c , gr rr r c
c r r r cr c gr
(a) c r x r rr r;
(b) cr c gr , r r r r gr r x c
c .
(3) a c r r r c r c r k r,
r c c r r r cr c , r c c r r , r c r b k.
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Dis los of o fli of i s
55. a r c r, c r r, r c r c
r k r, c r r r c ,r r c r r c , r r r c c r r r c r c r c , r x c c c r r
g r r c r
(a) r r c r c r c r rr c r c r k r; r
(b) r r c r, r r c c c r r r c c c r .
p : i r r r r r r r gg r. d .
S a y o o d d la a io
56. t cr r c r r, r c r cr k r, r c r c r r c 54 r 55 g c r c r g r .
r i s a
57. (1) a c r r r r r c rr g r c r k r r r c r
r c c r c r c
r c .
(2) a c r r r c r b k c , r b k, c r c r r r c rr g ,
c r r , b k r q r c r g c r c c .
p : f r r gg . d .
(3) t b k,
(a) r r r c rr g r r c r r;
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(b) r r c rr g r c c r r r c r r; r
(c) r r r r r r c r k r r rr ,
g c r c r g c r ,c g r r c r r c rr g r
r q r g r r c c r r r g cr r r r g c r c r r r r r g
r r c r k r.
p : i r r r r r r r gg r. d .
P art v
diReCtion and ContRol of defaultinG insuReR
no ifi a io of o - omplia wi h ma gi of solv y
58. (1) w r c r r r jq r q rg c , r r c r , c g r
(a) b k c ;
(b) r r cc .
p : i r r r r r r r gg r. d .
(2) t b k, r c r g , r c c r r r g r r r r rg
c c r b k r .
(3) w r c r r rg c , b k g c r g r c r r
r r rg c .
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(4) t b k r g cr r
(a) r r rg c ;r
(b) c cc b k.
A io agai s i s , mploy o di o
59. (1) t c r b k
(a) c r r
( ) c rr g r r r c r , cr r , r c g r ;
( ) c rr g x r r c r g, gr r g r c c
g r r c ;
( ) r c 58 ; r
( ) c r r ac , r c c c , r r, r g r r cr
r c r c c r ; r
(b) r c r r c r c r r
( ) c r r , r c r r c , r r r c c
r r c r r; r
( ) c c r c r r - r r r r j c r c r r.
(2) t b k, r r r g, c r c r r, , r c r r r
r q r c r r r c r , , r c r r .
p : i r r r r r r r gg r. d .
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(3) t b k, r r c k rc (2), r m r, r r
r g r g:
(a) r r r c , c rc r r,
r r c r c r r, r r
( ) c r r c c c c j cr r cr r r; r
( ) r c r c r r, r r r r r r c r
c r r cr r r r
g g r , r c c c ;
(b) r c r r r r r c c , r
r r r r c r r c r r r r; r
(c) r c r c , gr r rr g r c r r r r
r r .
(4) t m r, r r c k
r c (2) r (3), r c b k, r r Gaz tt , r
(a) r b k c r , r c rr , r r c r r r r ,
r , c , r r b k r
b k c g cr r r c x b k, r
r r r , r c rg c r r; r
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(b) r r r r r r gr(a) , r b k r C r r
g c r r.
(5) n r r r c cr r, , r c r r r g rr k g r r r g b k r
m r, c .
(6) n g c (5), r r r c r r k r r
g r r r r r c r r,
c r, r c g r .
(7) a r r, c q c r r rc (5) r (6), c r , r r k .
P ovisio s la i g o appoi m d s bs io 59(3) o(4)
60. (1) t r b k r r gr 59(3)(a) r (b) r r gr 59(4) (a) r c r
r b k, , x r r , x r c r rr b k r .
(2) n g c (1), b k r k r g g r .
P ovisio s la i g o moval d pa ag aph 59(3) (a) o(c)
61. (1) a r r c r r r rc c r r r r gr 59(3) (a) r r c r c r r r gr 59(3) (c) c
c r c r r c r r g r c r c c r
r r c c c r c r r r r .
p : i r r r r r r r gg r. d .
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(2) t r r r c r r r gr59(3) (a) r r c r c r r gr 59(3) (c)
g g c
c r c r c r r c r c r r r c , r c r c r ,
c c r c rr c r c .
P ovisio s la i g o ass mp io of o ol d s bs io59(4)
62. (1) w r c r c r r r c r r r c 59(4), cr r, r c r r b k r
r c c , c r r q r c rr .
p : i r r r r r gg r. d .
(2) t b k r r c r , c rr r r , r c r r,
c , c r r r r r c 59(4) r k .
(3) d r g r r r r c 59(4) rc
(a) r c r c r r g g
c r c r r, r c rr c , xc r q r r r z b k, r r ;
(b) r r ccr r r c r c r r r r g
b k, r r , r cr q r r r z b k, r
r ;
(c) b k r r r c r r, r r c r , r c c , r x rc
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c r r r r c r r r r g r r r r x rc
r .
p : i r r r r r gg r. d .
eff of o d d s bs io 59(4)
63. a r r r c 59(4)
(a) c c rr g , r g , b k, r r , , r
c r , r r c r r c r r r ;
(b) c r r g b k, r r , r g r
c r r, r c rr r r r r r c rc ;
(c) c r r g r C ac 1965, r r r , cr c g c p r ,c g r r g , x r r r ,
g r g r c cr r.
Pow o a l o iss addi io al api al
64. (1) n g r gr 64(1) (b) C ac1965, b k C r r r r c c
- r c c r r c rr r .
(2) t b k, c , C r r r r c c r r r g r
cr r c c gr r b k r q , r k g cc x c c r r, r q r g c r r k
c r cr r c .
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(3) w r r cr rc c r r r r
c c , b k r
r k .
(4) w r r c c r r r cr c (1) r cr r c (2),
c c , r g r r x rc r , r r .
Mo a o i m
65. (1) t m r, r c b k, c r r c r c r r c c 58 , r r Gaz tt , r r r g:
(a) r c r r r c rr g r c r
r r;
(b) r c r r r g r r r g c r c c c
r c r r r;
(c) c c c r r c x r c r c r g c
r r r gr (a) r (b) ;
(d) r z b k C r r r rg r r xc g x ,
c c r c c r c r c c r c g c r r g
c r r r c C r , r g x part r g g
b k, k r r; r
( ) g c r r r g g r gr ,c g r g b k k c
r c r , c , r r r c cr r.
p : i r r r r r gg r. d .
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(2) a r r r c (1) r cr, r r c c r j , r r c r r r r r c (1).
(3) a c r r g r r k g r r r r r r c (1)
.
(4) w r r r c r , r r r c (1) r r k r r g
r r r c q c r r , m r, r c
b k, c r r r k r r.
P art vi
manaGement of liCensee
Dis los of b fi ial i s i vo i g sha s
66. (1) a c c r r m c r g r q r r r c
r c c
(a) r g r c cr r r ;
(b) r , c r c r r r r c r c r
r r r .
(2) w r c r r r c(1) r r c r r r
g r r g r cc g r , c r q r c
r g r r r c r c c
(a) r r c r r r ;
(b) r r , c r c r r r
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r r c r c r r r
r .
(3) a c r c , c c , r q r c r g r r c r c c , r g r g c rr gr c r c r j c
gr r rr g r c r r c r x rc r g , , g
r c r gr r rr g r .
(4) s j c c (5), r c c
(a) c c r c ; r
(b) r r c c c r c ,k c k
r r c r r r ck k c r r c r.
p : o r gg . d .
(5) a r g c r r gr(4) (a) r r q r
c r r q r g r r r r r x .
A q isi io o disposal of agg ga of fiv p i si sha s
67. (1) n r r gr r rr g cq r r r r c c r r m r c r r c , gr r
rr g c rr , , r r c , cq r r r , r r
c , g r r r c r
c r r r r r , c , ggr g r r xc g r c r c r c r r
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g r r r r m r, c c r r, b k, c c
r c r k r, c j r r c c r.
(2) n r r rc (1) r r r c r
c r c r r, r qgr r rr g cq r r r r c r c r r g r r
r r m r r b k, c .
(3) a r g cq r r r r c r c r r r c (1)
r (2) c b k, r c b k
(a) c c r r r c r r, c , g r r c
m r r r r c ;
(b) c r c r r c r r ,r r r c .
p : i r r r r r r r gg r. d .
P ohibi io a d s i io i h v of o av io
68. (1) w r b k r c rc 67, k r r r r r g g r g r r r r c r c
r c j c c r :(a) r r r , r c rr g
gr r r, r , r, c r , r r r , r c rr g
gr r r, r g r ;
(b) r x rc g r g r c r ;
(c) r r r g r rr r r; r
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(d) xc q , r r c r c r r r , r r c c r r .
(2) a r r r r r c (1) r g r r c c ,
c z c r b k c r , b k, c z .
(3) a r r r r g gr , r r g g r c r r , r r c r r
r r r r c .
(4) a r g r c r r r r, r r c g
r , r c g r r b k r , rr r r b k.
(5) a r g r g rr b k k r r r r r c (1)
g r c c r.
(6) a g r g r r r r , r r r r j c c r r, k , r r c r r g r , r r r g b k.
(7) t b k, r c r g r r rc (6), c r r r r r, r r k ,
r r c r c r .
(8) w r b k c r r r r r, r rr r r c (4)
c r c x b k r .
(9) t r c r rc (8) C r , r c g
c r r r c , C r ,
j g C r c r r r c .
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(1 a ) n c c r cr r r r r r
r b k r r .
(2) n c , c r r c , r c r, c x c c r r g r, r
(a) q r c 71;
(b) c cr r r rr r cr ;
(c) r - x c r c r r r g r gr r c , r m
r g r .
p : i r r r r r r r gg r. d .
(3) t b k c r c r r c , r c r r c ,
r r r b k r r g r c (1) r c (1 a ), c
.
Disq alifi a io of di o o mploy
71. (1) n c , c r r c , r r cc r c r,
c x c c r, g r, cr r r r c c r g r g
c
(a) r j g kr , r , r c
cr r , r r m ;
(b) r j c r gr (c) , c rg r cr c r r g rr r r rr r , r , r , r , , r g r
c r r m ;
(c) c rg r c r ac rg r ;
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(d) r g r r r , r , r r c r c ,
r r , r r
r r r c r r r r ,r r g r cr , r r r r cr r r gr ck g, r r r c r c , r r gr ; r
( ) r , r r , r c r, r r c c c r g ,
( ) c r r c r r r mc g r ;
( ) c , c c c r kr ac , r r c c r r
r c 59; r
( ) c , c c c r k r, r r c c r r
r c 73 b k g f c i ac 1989.
p : t r r gg . d .
(2) a r j c r gr (1) ( ) , rc c rr c c c g c r
(a) c c r r, m r r g x r r gr ,
m r, r c b k, grc x , j c c c , k ; r
(b) c c r c r k r, c j rr c c r b k r g x r r gr b k
gr c x , j c c c , c r .
(3) d r g c cr r c g c r r c r rr r gr (1) (b) r (c) g r g c c , r c c c , r r c , r c r
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p : f r r gg .
(2) a c c r b k r g
r c c r r r r r r r c .
p : f r gg .
P art vii
auditoR, aCtuaRy and aCCounts
Appoi m of a di o
74. (1) a c , r c c r r c b k, r r
b k.
p : o r gg . d .
(2) w r c r r c c (1), b k r r c r r x r c b k c .
(3) i b k c r r r r c r r c (1) r (2),
r r, r r x c , c b k, c .
Disq alifi a io of a di o
75. (1) n c k g r r , r k g c r c c r b k,
r
(a) r c r;
(b) r r c xc g rc ;
(c) r c r, c r r r c ;
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(d) c r r c r r c ;
( ) r r, r r r c r, c r r,r , c ;
(f) r , r r r, r, r r r , r k g r g r r r r g r r r c ; r
(g) c c c r ac r C ac 1965, r c g rr r r r .
p : i r r r r r gg r. d .
(2) n g c (1), b k r r g r j c q c r
c r b k c r r c r .
(3) f r r c (1), r c
(a) r c r r c ; r
(b) xc r b k, c rc c c ,r r c , , r c g
, r r r cr r c r r .
(4) a r r c c j c
q c p r r c 9 C ac 1965 c r c .
p : i r r r r r gg r. d .
r s i io o a di fi m
76. a r k g c , k g c , r r c
r r , r r c , r r r q r
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( ) cc r g r x g , r cc c g r r
r c r c r c c r ;
( ) k cc k r r c r r r cc ;
( ) r r r r q r r , r c r c
c .
p : o r gg .
Addi io al q i m f om a di o
81. t b k r q r r
(a) c r r b k c ; r
(b) rg r x c r c , c r, r c
x , b k c ,
b k c c r q r c r c r r c c r.
p : f r r gg . d .
A di o o po ai ma s o h Ba k
82. (1) a r r r b k , c r r c ,
(a) r c r r acr c g r r r
r r c cr ;
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(b) rr g r c j r r cr r cr r c , r r r
rr g r , cc rr ; r
(c) r q r c 58 cr r.
p : o r gg .
(2) t r c r r c c r cr r r g b k g c c
c (1).
Appoi m of a a y by lif i s
83. (1) a c r r , r c cr r c b k,
c r r b k.
p : t r r gg .
(2) n c r r k g r c r r k g cc
c r c r r r m
(a)
( ) i ac r e g ;
( ) f c ac r sc ;( ) s c ac r u s
a r c ;
( ) C i ac r ; r
( ) a r i ac r ; r
(b) c r q c b k c .
p : t r r gg . d .
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(2) t c r c r r c r
r cr .
p : o r gg .
(3) t c r r r r r , c r c , c r b k c .
(4) a c r r g b k rc c
(a) c r r r c r c ;
(b) c c r c r b k r q r ,
r c r r cr r r b k r .
p : o r gg . d .
I fo ma io o a di o a d appoi d a a y
86. a c , r c r, c r r r c
(a) r r, r c r ,r r k g c r
r c r r q r ; (b) r r r r
r c r r g r r c r c .
p : i r r r r r r r gg r. d .
A al a o s
87. (1) w r c c r c , r c r r r b k r ,
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c b k, r c rr , r c c g:
(a) c c r r, rcc g r r g ;
(b) r cc c g r r g ;
(c) c r c r;
(d) r r r r c r r c r;
( ) r c r - x c r c r c x c c r r c r r gr (a) , (b) (d) ,
c r b k c .
p : o r gg . d .
(2) t r cc , r cc
c r g r g c r rr R g r r C r R g r rG r C - r s c c r b k c r g rcc , r cc c
r r r c q c r c r r r c c r r cc .
(3) a c b k x r r r r r c r r r b k r
(a) c r r r r r c r g cc ;
(b) r r c k r r c r r r r .
p : o r gg . d .
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A al a o s a d a a ys po of li s d fo igi s
88. (1) t c r q r rc 85, 87 89, c c r g r r, r m c .
(2) a c r g r r b k r , r c r r r b k
r , r r gr r g r g,
c
(a) c r r c r r c r r r , , r q r r g r c c r c c r r r r r ;
(b) g r c r
c r;
(c) c r r c cc r r g r g.
p : o r gg . d .
(3) w r r r r r rr c (2) g g r g g r e g ,
c r q r c g gr e g c r r r r g r r.
(4) t b k r q r c r g rr r r r r r g c c m , c r , c r ,
c .
Q a ly s
89. a c r r b k r c r r c q r r c r r c c
g:
(a) r cc g r r g ;
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(b) r cc c g r r g ;
(c) c r c g c x c c r r r c g
c r r,
c r , c , b k c .
p : o r gg . d .
A o i g s a da ds
90. a c cc c c cc g r r b k j c c
c b k c .
p : t r r gg . d .
A a ial po o laims
91. (1) t b k r q r c g r r r c r r c c rr r r c , c g c c r r g r k
g c , c r r b k.
(2) t c r r r r c b k x r r q r r b k r
c r r r b k r .
(3) s c 86 r c r r c .
A al a o s, q a ly s a d appoi d a a yspo o b ifi d
92. (1) t b k, c r g, r q r c r r x r c r r r c 85, 87, 88 r
89 c b k c .
p : o r gg .
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(2) t b k r q r r rx c r c r r c r .
(3) t b k , r c r g x r rr c (1), r c x g r c c
(a) r j c c r c 85, 87 r89; r
(b) r c c r c r rr c c c
r c .
(4) w r r c g b k rc (3), c c r
g r - rr q r r c .
(5) t b k, r r r r r r c 89, r c c
c r r c r c c c87 c c r r, c 85 87
r
(a) g cc r g r g;
(b) g cc r c 95.
(6) n g c (3), b k, c c r r, r q r r c r ,r b k, g c c c 85(2), (3), (4) c
86 cc r g .
p : o r gg . d .
r s i io o paym of divid d
93. a c c r r r
(a) c x r ( c g r rx , rg z x , r g c ,
r k r g , c rr , r x r r r g )
r ; r
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(b) r rg c .
p : i r r r r r r r gg r. d .
S bmissio of a al a o s
94. a c c r r, r r g r g, b k
r c cc r g r
g g r g c r c cr r .
p : o r gg . d .
A io i la io o a al a o s
95. (1) a c c r r, r
g cc g r g, r c r r r b k r
(a) r m r b k,
g g r e g ;
(b) x c c c r c m ,
c c r r r r c r , rcc , r cc c , r
g r g c r c b k c .
p : o r gg . d .
(2) f r r c (1), r r c g cc g r g, c c r g
r r r r c b k c r c c c 87.
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I sp io
96. (1) a c r r, c r r c
r r , c c g b k r c 85(4) 87(1) r r c g c .
(2) a r , r cr , c ,r k c , c g c r r
b k r c 85(4) 87(1) r g rk gr b k.
(3) s c (1) (2) (a) c c g r r
r ; r
(b) c r c b k c .
Admissibili y of do m
97. i r c g , c r c g r zc r b k g c g cr c 85, 87 r 89 r c cc
c g , c r c c c r .
Liabili y wh p op a o i g o ds o k p
98. i cc g r c r c r x x r c r c c c r k , r c r rk g r r cc g r c r c c r c c c r
c c x rc c g c r c c g x rc , gr g r r c c c c rc c .
p : i r r r r r r r gg r. d .
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P art viii
eXamination
exami a io of li s
99. (1) a x r r z r g b k x , r r c , c
(a) c , r g , r m ; r
(b) c q r c c c r k r r .
(2) f r r r gr (1) (a) , r r c c r g , c c r g r r,
r r c , r g , m .
D y o p od a d p ovid a ss o do m a di fo ma io
100. (1) a r r x r c r,
g (a) r x r cc c ;
(b) r x r c c rr x ;
(c) g x r, r r r g, cr c r g
r , r g , c c x r.
p : i r r r r r r r gg r. d .
(2) a x r k c rc c cc r c (1) r
(a) c r r r c , c gc g r k g x r c ;
(b) r r , r , c c r r k ; r
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(c) c g r c g ,r c r cr , c r
ac , C r b k m ac 1958 r
r r .
exami a io of p so o h ha li s
101. (1) t x r x
(a) r , r , r c r r c r g ;
(b) r , r , c r, rr g g c ; r
(c) r cq c c rc c c , c g r
c r c r c r r,
r g c c r r x r r q r c c .
p : i r r r r r gg r. d .
(2) a r r c r rr c c r c r g , r , c r
g g c r r x r.
App a a b fo xami
102. a r x r c 99(1) r 101(1) r r x r c c
c .
p : i r r r r r gg r. d .
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P art iX
investiGation, seaRCh and seiZuRe
Appoi m of i v s iga i g offi
103. (1) t b k r r r r c 3(3) g g c r.
(2) a g g c r, g b k, j c , j c r g , r c
c ac , C r b k m ac 1958 r r r c
b k.
(3) a g g c r j c r c c r b k.
Pow of i v s iga i g offi
104. (1) w r g g c r , r r , r c c r
ac , (a) r r rc r, z
c r r r c r r g ;
(b) c , k c , r k x r c r , c z ;
(c) k , r r r , c r r r z r c
r c r ;
(d) r k , x , rc r c , c rr r c c ;
( ) , r rc c c ;
(f) rc r c r c r r r c r r g ;
(g) r r c r c r c rr rc r r gr (f);
(h) z , , r k cr r r r .
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(2) t g g c r, c r
(a) r k r rc r, r r c c ; r
(b) r r r c c r , r r c c
rc r c (1).
(3) n r rc r cxc r .
(4) a g g c r z , k , r r c r k c r , c rr r r c r c r g ,r r g rc .
Obs io o i v s iga i g offi
105. n r
(a) r g g c r cc rr rc r ;
(b) , r c , r r g gc r c g r c c c ;
(c) c g g c r x c ;
(d) r g g g c r cr r c r r q r c r g ;
( ) r c , r c c r c cr , g g c r r r , r r r ,
c r r r c g g c r r q r ;
(f) r r r r r r g c z ;
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(g) r g g c r r ,r c k , r r ,
; r
(h) r r r z r , r k r rr r c r z r , r c r g
r c .
p : i r r r r r r r gg r. d .
r q i m o p ovid a sla io
106. (1) w r g g c r , z , r k , c c , r r , g g r g g r e g ,
r g r c , g g c r, r r r g, r q r r , cr c r c , r g g c r r g g r e g c r c .
(2) n r k g r r rc (1) c cc r r r c .
p : f r r gg . d .
(3) w r r r q r r r rc (1) r r g , b k
r r r .
Pow o xami p so
107. (1) a g g c r r r r r r g
x .
(2) a g g c r r r, r r r g, r cq c
c rc c c
(a) r r x ;
(b) r c r c ; r
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(c) r r g r r g c r
r q r .
p : i r r r r r gg r. d .
(3) s c (1) g r ,r , r k g r r q r cr c , c r r ,r g r gr r rr g , x r r
, c r r .
( 4 ) w r r r r gc r r r c c r r rr c (1) r (2), r
r c r c r r r , r r c g r c r r gr r
rr g r g c c r rr c .
(5) a x r c r g gc r r g r g r
x , r r r g r c r , g g c r r r c r r
c r r r , , r x .
(6) t r c r x , r r r c r r r r c r
r c , g r r r c r r , c c r
r c g r, r r , c r ac , r r r , r r r r ac .
Assis a o p bli offi
108. n g r r , b k, , r r q c c r r cc r c r g c r
r , c r cc
(a) c c z , r k ;
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(b) r c r x ; r
(c) r r r .
I v s iga i g offi d m d o b p bli s va a d p blioffi
109. a g g c r cr r r p C [ Act 574 ],
c c r r r Cr pr c r C[ Act 593 ] r r r c m r, r c b k, r cr .
P art X
windinG up of insuReR
Appli a io of his Pa
110. t p r C ac 1965, r c176, 237, 241, 242, 246 278 ac ,
g c r r, c g r r c c r k r r g
c c c .
r s i io o wi di g p of lo al i s
111. (1) a c r r, r r c c r k , r r d 3
p r X C ac 1965 r C r rr gr 218(1) (a) ac xc r r r
r r r r c 128.(2) w r r g c
c c , b k r c c .
Ba k o p i io fo wi di g p
112. (1) t b k r C r r
g c r r, c r g r rr g m , r r c c r k .
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(2) w r r g r r C r r r r b k, r ,
r , r b k
c .(3) t b k r r
r c g r g c , x cr - x .
(4) t b k, c r , r r .
no i la i g o wi di g p p o di gs113. a r
(a) g b k c r c g r g , c g r c g r c 243 249, c 236(3), 277(2), (3) (4) C ac 1965;
(b) r b k c c r c r r g r c g
r g C r r r r r c g .
Addi io al i ms a s fo wi di g p
114. t C r r r g r r
(a) r c g r r
m r r r gr 59(4) (b) ;(b) r c r c 58(4);
r
(c) c c r k r c 31.
Appoi m of liq ida o
115. (1) t C r , r g r r
(a) r c c r r, q r;r
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(b) r c r g r r, q rr m ,
c r b k c rc .
(2) t b k C r r r r r c (1) r c rr c C r r
c (1).
co ol of liq ida o
116. s j c r r C r , q r, r o c R c r, r c 115(1)
c rr c r r c r b k.
p : f r r gg . d .
r m a io of liq ida o
117. (1) t r r q r r rq r r r r C r , r c b k.
(2) n r , r b k, C r r r r q r r r q r.
S a m of affai s
118. t r r r g r r r c 234 C ac
1965 b k o c R c r r q r.
Liq ida o s po a d a o s
119. (1) t q r g b k c
(a) r r r r r rr c 235 C ac 1965 C r ;
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(b) r cr r r rr c 281(1) C ac 1965
o c R c r.
(2) t q r b k c r c b k c .
Val a io of ass s a d liabili i s
120. i g r r, r r c c r k r r , , c g r c
c , c r c b k r r g kr c .
t mi a io of poli y
121. (1) a c r r c r rc c r g r r.
(2) w r c c rc r c (1), c r g c
(a) r r r r x rr g r c ; r
(b) c r r r r c c .
(3) t q r c c r , c gr c , gr c r,
c r c r r kr r c r b k c .
Appli a io of i s a f d i a wi di g p
122. (1) i g r r, r c c r c r c c r c r r r
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c r r r r c rc 292(1) C ac 1965 x
r r r c .
(2) s j c c (1)
(a) r r g m r c rr g r c r r
r c r g r r c r g ;
(b) r r c xc , r r r
r r c cr c ;
(c) c c g r c r c r r gr (a) (b)
r r r, c r c
r c r r r r c r r r r c r
c 292(1) C ac 1965.
Waiv of s i p oof of d b
123. w r r q r r q c c , r r c rc c , r c r q r r c r , c
c c k q r g r g r
c rg q r r r c .
Off s by di o , mploy o ag of i s
124. n r c r, , g r c r r , r r , r r c g
(a) r c r c , c c ;
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(b) r c g r r c c g
( ) c c r r r , r c c r r ;
( ) r r r r r ;
( ) r r g r r , r,c c , r , r cr g r r r r ;
( ) k , r c , rr r c c g, r
r g r r r r ;( ) r r g r r , r
r , r r k c r g r r r r ;
( ) r r r r r , r r , r r , cr
c q r;
( ) cr , r r , r
r c c rr g , r r c q r;
( ) g r r r c cr
r, g g r r r c r ;
( x) cc r r r r c r x ; r
(x) k r r r r rr r g c
cr r gr r r c r r g ; r
(c) r c c g
( ) k r r g r ;
( ) k g r g r r , r q r; r
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( ) r c r r r c c r g r r r r .
p : i r r r r r gg r. d .
co i a io of lif b si ss
125. (1) n g r gr 236(1) (a) Cac 1965, q r r r
(a) c rr gr rr g g c c r r r r
c c ; (b) j c c (2), r r
r r r, c g r c p r Xi xc r gr
129(1) (d) r r.
(2) t q r, r r r r rr gr (1) (b) , C r r r r
r c
(a) r c r r;r
(b) r ,
C r r c x c rk g c r j c c c c r .
Wi di g p l s
126. (1) i m r R Cr r k g c r r c 372 C ac 1965 r g
r r , C k r r c g c r , r r j c c
c C c r .
(2) R r c (1) r r c r xc p r X C
ac 1965.
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P art Xi
tRansfeR of business
I p a io of his Pa
127. i p r
r r c , c g c r r, c r c c r r r rr ;
r r r r r c r r r c, r r , r r ;
c c r r r r c .
co o o fi m s h m
128. (1) a r r r r c , r r , r rr r r c r b k c r C r .
(2) s c (1) (4) c r g r r, r m c .
(3) t c r C r r c (1) r q r r r r c c r r
m .
(4) a c r r r rr c c c r r r ac r c r c , c r c c c g c .
S bmissio of s h m
129. (1) t r r r, r k g c C r , b k, c r b k
c
(a) r c ;(b) c r r c ;
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(c) c r c cc , c r r , r r c c ;
(d) c r r r c r ,c r cr r cr g r r.
(2) t b k r q r r r r r r r r r c c r r , b k c ,c g
(a) c r c r c c r r ;
(b) c c c r r rc c r q r c 18;
(c) r r r r r r , c r r , r r r r r
c r c c r c .
(3) t b k r q r c r , g , r b k
c r r r r.
(4) i c r r g r , c r r r r c
c c rr r r , r r c r
c .
App oval of s h m
130. t b k r j c c r r cc c .
no i of s h m
131. (1) t r r r, b k r c , c g
(a) C r r c r
c , Gaz tt r m r b k, c g g ;
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(b) c c r cr r r r c c
r r r r r ;
(c) c r c r c c x ;
(d) c r, c r r cr r j c c r g b k r
r c c .
(2) t r r r c c g r r c r b k c
c r k r .
(3) t b k, r r r c r g, x r c (2) j c c c
b k .
Modifi a io of s h m
132. w r c r, c r r cr r j c c , r r r, r
b k, c .
P i io o co o o fi m s h m
133. (1) t r r r r C r rc r c r b k.
(2) a c C r r c rc c c r ,
C r , k c c , r c r c C r .
(3) t C r r c r c r c r r c .
(4) w c r g c , C r x
c r r r r g r c c r r r g r c .
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Ba k o b pa y o p o di gs
134. (1) a r k g c C r r
c (a) r c c b k;
(b) g c b k r c g r g c ;
(c) g b k c c r g r c g ,
r c g r r cg C r r r r r c g .
( 2 ) t b k r r c g r g c r c c c , x cr - x .
(3) n g b k g r c , r c r
c 133(2) r r c c .
eff of co s o fi ma io
135. (1) t C r c r c c
(a) g r r r r g r rr c r r
c r r r g c ;
(b) k g r r r r r rr c r r g
c r r g rr g r r r r r c r c .
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(2) w r r r C r , r r r r , r r
(a) C r , r *p rm , c c r r r
R g r r t r l a r r, c , r k g r r g c c 420(2), (3)
(4) n l C [ Act no. 56/1965 ];
(b) r s , r r , r c c r r r ,
r c c r r
R g r r r r g r g r r r r , r r , r r l or c
s [ Sabah Ord. Cap. 68 ]; r
(c) r s r k, r r , r c c r r r ,
r c c c r r R g r r r r g r g
r r r r , r r , r r c 171 l
C s r k [ Sarawak Cap. 81 ].
r imb s m of Ba ks xp s s
136. t r r r r r j r r r b k x c r r
p r .
P ohibi io of paym o of i s a f d
137. n r r r r r r c r c .
p : o r gg .
* nOT e a r r c w m c r r r c p rm . . . 25 J 1997 s c 5(2) i r r (a ) ac 1997[ Act A996 ].
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Lodg m of do m
138. w r r c k c ,
r r g b k (a) c c c r C r ;
(b) r rrr c c r r;
(c) g r r c r r;
(d) c c r r r r r r r c c r c g
r rr c q r r b k r c 129(1);
( ) r c r c r r r c r , r r , r r r rq r, c , g c
r k r r cc r r g r r
k g .
t a sf of i s a b oki g, adj s i g b si ss o fi a ialadviso y b si ss
139. n c r c r k r, c j r r cc r r r , r r ,
r xc r r r r b k.
P art Xii
pRovisions RelatinG to poliCies
I s a of p op y a d liabili y
140. (1) exc r r r r b k, r r r c r r r , r ,
r r r c g r r r.
p : f r r gg .
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(2) t b k, r c r r ,r , r c g r r r,
r c m r, r r
c (1) r r c c m .
(3) a r r c (2) gr rc r j c c c b k c .
(4) a r r b k c r r c r r , r , r q r c r g c r c
c .p : f r r gg .
(5) i c
(a) r r r r , r , c m , c g r rcr r g r
m ;
(b) r r m r r .
Ass mp io of isk
141. (1) n c g r r r r k r c c cr g r c r cr
r r c c
g r r r c r c r cr .
p : f r r gg .
(2) w r r r c (1) r c r c g r r r, r c
r c c g r r r r r c r g
r r c r r z r c r c g r r r.
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(4) t c r c c r cr b k c .
(5) t c r c r r r r c r c cc r c r c r c c
x r c c r r c cc g r c c b k c r g r
c r r r r r .
(6) t c r c r g r r r c r c r g r x r
c r c r r r r cr c .
(7) w r r r r c r c rr c r c , c r r, xc r b k, r r c c cr , c r gr r
x r c .
p : o r gg .
A a ys po o poli y ms
143. (1) t b k r c c r r c r r b k r , c c , r r
(a) c r r r r g c rg c r r
r c r c ; r
(b) c r r b k c ,
c r c r , r r r r r r r cc r c r c r c r c c r r
x r c , r r c r , r
r r r r c c r r c r c r c .
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(2) t b k, r c r g r r c r
(a) r c r r r r g c r c c; r
(b) r q r c r r k c c g c r c b k c .
p : o r gg .
(3) u r c r r , b k r r c c r r c r .
P mi m a d g al poli y
144. n c g r r r r c c g rr r r r r , r r c
r c , r cr g r c c g r c c g r r r , xc
r r r r b k.
p : o r gg .
r vi w of p mi m a
145. t b k r q r c r r r c c r g r r r
(a) r r r cr r g rc r c c x r c
c r r r c r r r rc r r r r r ; r
(b) j r r r cr rg r c b k, c r ,
r c c r r cr r r c r r .
p : o r gg . d .
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no i ga di g p oof of ag
146. w r c r r c cr r g r cr c r c
g r , r c r c g r g
r r q r r r r c .
Miss a m of ag a d o -avoida of poli y
147. (1) a c r r r c r g
r .
(2) w r r g r gr r c c , c r r
r r , , c , r , r r r
r , , cr r r r c r
r c c r g .
(3) w r r g r c c , c r r
(a) r r , , c , r , r
r r r , , c r r
r r c r r c c
r g ; r
(b) r c r r c ,
c r g r c r r-
r
c xc c c r g .
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(4) a c r r c r x r r r c
c gr r
r r r c r r r c r, r r , r r r , r c g c , cc r r r g
c r r r r r r r c r r c r.
(5) f r r c (4), r r r r c r r c c , k
c r r, r c c r r r r c r c .
(6) n g c r c r rr c g r r g c r c r
c r j cc r c c (2) r (3).
Obj io o lif poli y
148. (1) a c r, r r c cr r r r r c , r r c c r r r r c r c c c
c c j c c x c rrr c x r .
p : f r r gg .
(2) s c (1) c r gr r r r .
(3) f r r c (1), c
r r c r r c r c r r g r .
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co ol of p oposal fo m, poli y o b o h
149. (1) a c r r, g r q r b k
c r g, r r , c rr c r r g r r r r r r , c r r c r g g r e g , r g g r e g .
p : o r gg .
(2) t b k, r g g c r r r r , c r g r c c r r c r r , c r r c rr c c , r c
r b k c .
p : o r gg .
(3) u r c b k r c (2), cr r c r r , c r r c r
g b k cc r c c (1).
(4) a r r , r r r r , r q r r c r c r r
r r g r r g c k r g k, c .
(5) t b k c c g r c c r cr r r , c r r c r .
D y of dis los
150. (1) b r c r c r c r , r r c c r r r
(a) k r c cr r r cc r k r
r r ; r
(b) r r c rc c c x c k r .
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(2) t c r r q r c r r
(a) r k c r r;
(b) c k g ;
(c) c r r k r r r c r g k ; r
(d) r c c c r r r q r r c r .
(3) w r r r r r g cr rr r q c r rr k c r r r rr r c r r, c c c r r c r
c r r.
(4) n c r r, r c g , c cr r c r r r r r c
r r r r r c r c r c r r g
(a) k c g, rc , r r r r ;
(b) r c c r c ; r
(c) c r c g , c cr r c r r r ,
r c r r r r z c r r.
p : o r gg .(5) w r r c r c r c r c r cr c (4), c r c
r c r r c .
K owl dg of, a d s a m by, i s a ag
151. (1) a r r z c r r r c g c r g c r c r c c c , r r
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r c r c r c , g c r r k g r c g k g c r r.
(2) a , r c , r c g , r r r c r c
r c , , r c , cr r g r c g c r c 150(4) r r r ac .
(3) s c (1)
(a) r r c r c c
r c g r r r c r c r c ; r
(b) r r c r c g c r r k r r , r r g k g , cr c g r c c
c .
I s abl i s152. (1) a c r g r
r c g r c , r r c (2), r c g
r c r r r c c c , r r c r , c
r r c , xc r r r g
c cc r .
(2) a r r r r r r r r
(a) , c r r g r g j r r c c ;
(b) ; r
(c) g r gr (a) , r r c c , r r ,.
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(3) i c , r g r r g r r g
c g c r r c c
c gr g c c r r rr .
(4) t c c c r21 J r 1963.
capa i y of mi o o i s
153. (1) n g c r r , r
g r g x r , c r g r r
g r
(a) c c r r c r r ; r
(b) g c .
(2) a r g x r
(a) c c r r c r r ; r
(b) g c ,
c r c x rc r r g c r r c c r g
j r .
Lif poli y mo ys o b paid wi ho d d io
154. (1) p c r c , r rr r c ,
c r r c r r g c , c
c r c .
(2) a r c c r grr g c r c x c r r
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c r c r, r rr r , c c
r c .
(3) s c (1) (2) m c c r 21 J r 1963.
(4) i r c g r r c r c r, r rr r , c - r
c r-c xc r r c r r gr c rg g c .
S d of lif poli y
155. (1) a r
(a) c g r c ; r
(b) c r g r c rc r r r r r ,
c r, c r g c r r, rr r c r c rr r c , r c r
r cr j c c r c r r gr c rg g
c .
(2) n g r gr (1) (b) , c r r r rr r r c c rc r r r .
(3) a c r rc c r r c rr r c .
no -paym of lif poli y p mi ms
156. (1) w r c rc r r r rr , r r r - r c j c c c r r c rc , r
r c r , r , r cc r c c r r c c
c .
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(2) n c r r r r c (1) r c r
b k r r c r
.
(3) w r b k c r c r r r r r r , r q r c r r c r g cr b k c .
(4) a c r r r c r c r c (1)c c r
xc r c r c rc .
(5) a c r r, r c c rc (3),
c .
p : f r r gg . d .
(6) n g c (1), c r r r r c r c c
rc r r r .
Pa i la s i poli y
157. (1) a c r r c r c rg r r c .
(2) a c r r c r r c c
(a) g r c r r c gc ;
(b) c r, c r g c r r, rr r c rc 155 r c rr r
.
p : f r r gg .
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el io fo paid- p poli y
158. (1) w r c rc r r rr r , r c r r c r r
, c r, c r g c r r, c xc g c r - c r r r c r
r cr .
(2) a c c r r c r g c rc r r
c c rc .
Addi io al igh s o f d by s io s 155, 156 a d 158
159. t r g c rr c 155, 156 158 , r g , r r g
c r r r cr r .
coll io of p mi ms a poli y ow s add ss
160. (1) t b k r cr r c c r r c rr r c cr r r r r c c c rr r c r r r r .
(2) i r c c c c (1) , r c r r
r c c r c r r.
I s o laim amo
161. (1) w r c r r c r c , r r r cc c c r c r r x
r c c , c r r c r r r c r r c
r r r cr c
x r x .(2) t c r p r Xiii.
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P art Xiii
payment of poliCy moneys undeR a life poliCyoR peRsonal aCCident poliCy
Appli a io of his Pa
162. i p r , r r c c r r c c , c g c r c 23 C l
ac 1956 [ Act 67 ], r cc c , c c r r g r c
.
Pow o mak omi a io
163. (1) a c r g gr r r r c c
r c g cr r r g , r , c r r
r r c r c r r
(a) c ; r
(b) r c , g r cr c r r r c .
(2) a r c (1) r g gr r c .
(3) t c r r
(a) r r c r g c r , r , c r r , r c c
c x c r;
(b) r c r r c r r g r c ;
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(c) r r c c r rr g c r g
r r g c r g r
c r kc r r g r
c r r.
(4) a r c c (3) c r r c r g
c r r.
(5) a r c (1) r r r r r r r r r , c r r c cr r c
r c c r, c r r r q r .
r vo a io of omi a io
164. (1) a , c g c c166 , r k
(a) , r r r r , ,
r g - c r;
(b) c r g g c r; r
(c) q .
(2) s j c c (1), r k r r c , r .
(3) w r r r r c c r, c
q c r g r c , c r r
r r g r r r r cr .
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Paym of poli y mo ys wh h is omi a io
165. (1) s j c c (2), r c r
g , c r r c c c r cc r g r c
r c c c cc r c r.
(2) w r c c x c r r c g r c r, c r r r g k r c c .
(3) w r c c c r r c g r
c r c r c (2),c 169 g .
(4) w r , r r c 166,
r c r r c , c 164 r 169 c , c .
t s of poli y mo ys
166. (1) a c r, r mc r, cr r r c cr,
(a) r c ; r
(b) r r r c g , r .
(2) n g r c r r ,
r c (1) r r c c r r j c .
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(3) t c r, c , r c r g c r r, r c r r r
(a) c c r c ; r
(b) r c c r c , r c r r r g r , *p c tr ,
r c r c r c rg c r r r r c c r .
(4) a c r c cc (1) r k g r
c , r g r rr r g c , r g g rg g c c r , r c r .
(5) n g c r j c cr r c r r g c r r c r c , r r , c r c rc gr r r c r r cr r.
nomi o h ha a omi d s bs io 166(1)
167. (1) a , r r c166(1), r c c
c r x c r c r r r c c r j c c r r c rg r r c c .
(2) s c (1) m cr , r c c , r c cc r c i c .
* nOTe a r r c p c tr c r C r r s c 2 c 43(3) p c tr C r r ac 1995 [ Act 532 ].
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Assig d o pl dg d poli y mo ys
168. (1) n g r c 163 r
cr r r c 166(1), r c, r r , g c r rg r , c r r
c r r g r r r c j c r g r c r r g g r r , c r r c c .
(2) w r r r r r c rr g , r c r g r
r c r r g r r r r cc r g r r c c r r g cr , c r g g r c r r .
Paym of poli y mo ys wh h is o omi a io
169. (1) w r c r c g , j c c 168, c r r c c c r
c r c Gr pr r l r a r r d r or r.
(2) s j c c (1), c r r c r , c r r r r
r r r r r r , c rr , q r c r c rr , c r r
(a) r c xc r r gg r c gr r r cr ,
c r r c r q r g Gr pr r l r
a r r d r or r
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