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INTERNATIONAL INSURANCE ACT
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PART 5 APPLICANT ADMINISTRATION EXPERIENCE (WHERE APPLICABLE)
2023 Laws not yet authenticated through a Commencement Order
Revised Laws of Saint Lucia (2023)
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PART 5
APPLICANT ADMINISTRATION EXPERIENCE (WHERE APPLICABLE)
Please provide details of insurance business administered by the applicant over the past seven (7) years.
Name of Insurance Jurisdiction/Domicile
No. of Years Administered
Nature of services provided
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PART 5 APPLICANT ADMINISTRATION EXPERIENCE (WHERE APPLICABLE)
1. Short title
2. Interpretation
3. Requirement for licence
4. Application for and grant of licence
4A. Registration of incorporated cell company and incorporated cell
4B. Transfer of registration on winding up or dissolution
5. Registered office and registered agent
6. Notification of change of particulars
7. Categories of licences
8. Fees
9. Refusal to grant licence
10. Financial Statements
10A. Cancellation of registration on application
11. Limitations on activities
12. Capital
13. Prohibition on issue, transfer or disposal
14. Use of words
15. Audited accounts for licensee
16. Prohibitions on licensee
17. Number of directors
18. Transfer of business
19. Powers and duties of Director
20. Secrecy
21. Powers of Minister
21A. Cancellation of registration
22. Order for winding-up
23. Offences and penalties
24. Appeals
25. Insurance
26. Immunity
27. Non-application of Insurance Act and Exchange Control Act
28. Regulations
International Insurance Regulations – Section 28
ACT
PART 1 SHORT TITLE AND INTERPRETATION
1. Short title
2. Interpretation
PART 2 LICENCES
3. Requirement for licence
4. Application for and grant of licence
4A. Registration of incorporated cell company and incorporated cell
4B. Transfer of registration on winding up or dissolution
5. Registered office and registered agent
6. Notification of change of particulars
7. Categories of licences
8. Fees
9. Refusal to grant licence
10. Financial Statements
10A. Cancellation of registration on application
11. Limitations on activities
12. Capital
PART 3 SHARES
13. Prohibition on issue, transfer or disposal
PART 4 ADMINISTRATION
14. Use of words
15. Audited accounts for licensee
16. Prohibitions on licensee
17. Number of directors
18. Transfer of business
19. Powers and duties of Director
20. Secrecy
21. Powers of Minister
21A. Cancellation of registration
22. Order for winding-up
PART 5 MISCELLANEOUS
23. Offences and penalties
24. Appeals
25. Insurance
26. Immunity
27. Non-application of Insurance Act and Exchange Control Act
28. Regulations
SUBSIDIARY LEGISLATION
International Insurance Regulations – Section 28 (Statutory Instruments 82/2000 and 35/2001)
1. Citation
2. Interpretation
3. Application for licence
4. Licences
5. Actuarial opinion
6. Notice of change
7. Notice of revocation
8. Fees
9. Deposits and investment
Schedule 1
PART 2 APPLICANT'S ADDITIONAL INFORMATION
PART 3 APPLICANT MANAGEMENT
PART 4 DETAILS OF CORPORATE STRUCTURE OF WHICH APPLICANT FORMS PART
PART 6 REGULATORY RELATIONSHIPS
PART 7 STATUTORY DECLARATION – TO BE COMPLETED BY SHAREHOLDERS, DIRECTORS AND SENIOR MANAGEMENT PERSONNEL
Schedule 2
International Insurance Regulations – Section 28 (Statutory Instrument 32/2007)
1. Citation
2. Interpretation
3. Application by incorporated cell company for licence to carry out insurance business
4. Application for a certificate of registration
5. Certificate of registration
6. Notice of cancellation
7. Licences
8. Annual fee for licence
9. Responsibility of licensed incorporated cell company
10. Financial statements
11. Financial year
12. Operating agreement to be filed
13. Semi annual reports
14. Capital
15. Separation of assets and liabilities.
First Schedule
Second Schedule