Insurance Returns and Solvency Amendment Regulations 2005
INSURANCE RETURNS AND SOLVENCY AMENDMENT
REGULATIONS 2005


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BR 42 / 2005

INSURANCE ACT 1978

1978 : 39

THE INSURANCE RETURNS AND SOLVENCY AMENDMENT
REGULATIONS 2005




The Minister of Finance, in exercise of the powers conferred
upon her by sections 18 and 53 of the Insurance Act 1978, makes the
following regulations:

Short title and commencement
1 These Regulations may be cited as the Insurance Returns and
Solvency Amendment Regulations 2005 and shall come into operation on
the 1st day of July 2005.

Interpretation
2 In these Regulations "the principal Regulations" means "the
Insurance Returns and Solvency Regulations 1980".

Regulation 2 of principal Regulations amended
3 Regulation 2 of the principal Regulations is amended by deleting
the definition of “loss reserve specialist”.

Regulation 6 of principal Regulations amended
4 Regulation 6 of the principal Regulations is amended by
inserting the following paragraphs after paragraph (a) ⎯

“(aa) state the class of registration;



INSURANCE RETURNS AND SOLVENCY AMENDMENT
REGULATIONS 2005


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(ab) state the conditions, if any, which have been
imposed on that insurer’s registration under section
4 of the Act;

(ac) state the particulars, if any, of any direction issued
by the Authority under section 56 of the Act;”.

Regulation 7 of principal Regulations amended
5 Regulation 7 (1)(a) of the principal Regulations is amended by
deleting “accepted auditing standards” and substituting “an auditing
standard recognised by the Authority”.







Made this 13th day of September 2005







Minister of Finance