First Previous (PART IV Regulation of Insurance Intermediaries) Next (FIRST SCHEDULE Enactments Repealed)

3 1989

INSURANCE ACT, 1989

PART V

Miscellaneous

Appeal against suspension or revocation of authorisation.

58. —(1) Where the Minister proposes to suspend or revoke an authorisation under section 21 he shall notify the undertaking concerned in writing of such proposed suspension or revocation.

(2) A decision by the Minister to suspend or revoke an authorisation under this Act shall be notified in writing to the undertaking affected together with the reasons for the suspension or revocation of the authorisation.

(3) Where an authorisation is suspended or revoked under the provisions of this Act the Minister shall notify the suspension or revocation to the supervisory authorities of any other Member State of the European Communities in which the undertaking carries on business.

(4) Where an undertaking has its head office in another Member State the Minister shall not revoke the authorisation of the undertaking without first consulting the supervisory authority of the Member State in which the head office is situated. The Minister may, however, suspend the authorisation of the undertaking in the State before such consultation is concluded and shall in such a case notify the supervisory authority of the Member State where the head office is situated.

(5) The Minister may terminate the suspension of an authorisation at any time by notifying the undertaking that its authorisation has been restored.

(6) An undertaking may appeal to the Court against a decision of the Minister to suspend or revoke an authorisation.

(7) The whole or part of an appeal under this section may be heard in chambers.

(8) Nothing in this Act in regard to the suspension or revocation of an authorisation shall affect the validity or due continuance and fulfilment of any contract of insurance effected before the suspension or revocation of the authorisation.

Appointment of authorised officers.

59. —(1) The Minister may appoint such and so many of his officers as he thinks fit to be authorised officers for the purposes of the Insurance Acts.

(2) Every authorised officer shall be furnished with a warrant of his appointment as an authorised officer, and, when exercising any power conferred on an authorised officer by section 60 , shall, if requested by any person affected, produce the warrant to that person.

Powers of authorised officers.

60. —(1) An authorised officer may, for the purpose of obtaining any information which the Minister may require for enabling him to exercise his functions under the Insurance Acts, do any one or more of the following things—

(a) enter at all reasonable times any premises in which he has reasonable grounds for believing that there are any books, documents or records relating to the issue of any policy, bond, certificate or other instrument of insurance, or to the acceptance of any premium in respect of a policy, bond, certificate or other instrument of insurance,

(b) require any person employed in the premises to produce to him any books, documents or records which are in such person's control, possession or procurement and which such officer has reasonable grounds for believing to be records, books or documents relating to the issue of any policy, bond, certificate or other instrument, and to give him such information as he may reasonably require in regard to any entries in any such records, books or documents,

(c) inspect any book, record or other document produced in pursuance of a requirement under the Insurance Acts and, if he thinks fit, copy any entry in such record, book or document.

(2) A person who obstructs or impedes an authorised officer in the exercise of a power or does not comply with a requirement under this section shall be guilty of an offence.

Codes of conduct on duty of disclosure and warranties.

61. —Where the Minister considers it necessary in the public interest and following consultation with the insurance industry and consumer representatives, he may by order prescribe codes of conduct to be observed by undertakings in their dealings with proposers of policies of insurance and policyholders renewing policies of insurance in respect of duty of disclosure and warranties.