(1) An association of underwriters shall not carry on insurance business in Saint Lucia unless it is registered in accordance with this Part, but an association which was carrying on insurance business in Saint Lucia before the commencement of this Act shall be deemed to have been registered.
(2) An association of underwriters which is constituted outside Saint Lucia shall not be registered under this Act unless there are one or more persons resident in Saint Lucia who are authorised to accept on behalf of the members of the association service of process in any legal proceedings, being persons nominated for that purpose by the association.
(3) An application by an association of underwriters for registration shall be made to the Registrar and shall be accompanied by evidence of payment of the prescribed fee and the following information—
(a) a copy of its statute and deed of association;
(b) in the case of an association constituted outside Saint Lucia, a certificate stating that—
(i) it has been established for at least 5 years,
(ii) the law of the country in which it is constituted provides for the regulation of an association of underwriters, and
(iii) the association is operating in accordance with that law;
(c) The names of the members of the associations of underwriters;
(d) the name and address of every person who is nominated under subsection (2);
(e) the name and address of the insurance brokers through whom insurances may be placed as brokers in Saint Lucia; and
(f) such further information as may be required by the Registrar.
(4) The Registrar may register an association of underwriters as an insurer where he or she is satisfied that the association complies with this Part and section 80.
(5) Where the Registrar proposes to reject an application for registration, he or she shall notify the applicant in writing and shall also state his or her reasons for so doing.