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Revised Laws of Saint Lucia (2021)

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27. Non-application of Insurance Act and Exchange Control Act

(1) The Insurance Act shall not apply to a licensee.

(2) This Act shall not apply to companies licenced to carry on an insurance business under the Insurance Act.

(3) A licensee or the dividends, royalties, interest, foreign securities, funds, gains or assets generated or managed by a licensee in the course of its international insurance business, shall not be subject to the provisions of the Exchange Control Act.

(4) A law in force in Saint Lucia regulating the charging of interest on loans by financial institutions shall not apply to a licensee on its international insurance business.

27. Non-application of Insurance Act and Exchange Control Act

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

9. Refusal to grant licence

10. Financial Statements

10A. Cancellation of registration on application

11. Limitations on activities

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

21. Powers of Minister

21A. Cancellation of registration

22. Order for winding-up

23. Offences and penalties

28. Regulations

International Insurance Regulations – Section 28