Insurance Act, 1964
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Restriction on the grant of assurance licences. |
7.—(1) Subject to subsection (2) of this section and notwithstanding anything contained in the Act of 1936, the Minister shall not grant any assurance licences under Part II of that Act. | |
(2) Subsection (1) of this section does not apply in relation to the grant of an assurance licence to a company that is formed and registered under the Companies Act, 1963 , and complies with the conditions specified in subsection (6) or paragraph (b) of subsection (11) of section 12 of the Act of 1936. |