(Sections 2 and 80)
Deposits required for transacting insurance business or carrying on the business of insurance brokerage may be in the following prescribed securities—
1. treasury bills issued by the Government of Saint Lucia;
2. bonds and debentures issued by the Government of Saint Lucia;
3. bonds and debentures issued by the Governments of the Commonwealth Caribbean;
4. deposits with the Saint Lucia Development Bank;
5. bonds, debentures, stock issued by the Caribbean Development Bank;
6. long term securities held with any financial institution licensed under the Banking Act provided that the securities may not be redeemed or released without prior written approval of the Registrar.
(Amended by S.I. 125/2002)