Revised Laws of Saint Lucia (2022)

PART 4
ADMINISTRATION

14.   Use of words

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   (1)   A person, other than a licensee shall not, unless with the approval of the Minister—

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      (a)     use or continue to use in Saint Lucia or elsewhere the words “assurance”, “financial institution”, “insurance”, “life”, “property and casualty”, “surety”, or any of their derivatives either in English or in any other language, in the description of or title under which such person is carrying on business;

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      (b)     make or continue to make in Saint Lucia or elsewhere any representation in any bill head, letter, letterhead, circular, paper, notice, advertisement or in any other manner whatsoever that such person is carrying on international insurance business; or

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      (c)     in any manner whatsoever solicit or engage in any international insurance business from Saint Lucia or elsewhere.

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   (2)   An eligible company shall not, unless with the approval of the Minister, be registered, or continue to be registered, in Saint Lucia by a name which contains the words “assurance”, “financial institution”, “insurance”, “life”, “property and casualty”, “surety”, or any of their derivatives, either in English or in any other language.

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   (3)   Before giving his or her approval under subsection (1) or (2), the Minister may require of any person such references and such information and particulars as may be prescribed.

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   (4)   The Minister may withdraw an approval given under subsection (1) if the Minister is satisfied it is in the public interest to do so.

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   (5)   The Minister may refuse to grant a licence to an eligible company or, if the eligible company is already in possession of a licence, the Minister may revoke the licence if, in the Minister's opinion, the eligible company is carrying on or intending to carry on international insurance business under a name which—

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      (a)     is identical with that of any company, firm or business, whether in Saint Lucia or not, or which so nearly resembles that name as to be calculated to deceive;

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      (b)     is calculated to suggest, falsely, the patronage of or connection with some person or authority, whether in Saint Lucia or not; or

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      (c)     is calculated to suggest falsely, that such company has a special status in relation to or derived from the Government, has the official backing of or acts on behalf of the Government, of any department, branch, agency or organ of Government, or any officer of Government.