Art. 15 — XVII tal-1981 – Att tal-1981 dwar l-Impriża ta' l-Assigurazzjoni

(l) A licenscd company acting as principal may accept re-

Re- insurance.

insurance o nl y of such risks, and may retain r i s ks thereon only within

sl1ch limits, as it may otherwise lawfully insure.

(2) A licensed company a c t i n g as principal sha11 not cede by

way of re-insurance any p a r t of a n y risk assumed as part of the business

carriecl on by it in Malta except either lo a company licensed to carry

on the business of insurance as principal Of to a company approved by the

Minister under paragraph (c) of subsection (1) of section 3 of this Act

and in respect of which such an approva! is current1y operative.

(3) The Minister may by order in writing require a licensed

company acting as principal to cede to any licensed Iocal company

named in the order such percentage not exceeding thirty per centum, of

the risk insured and situated in Malta as is stated in the order.

(4) No company licensed to carry on the business of life

insurance as principal sha11 re-insure its whole risk on any individual

life or joint lives 01' substantially all of its insurance in force, without

having first ap p 1ied for and obtained the l\lIinister's permission in

writing.

← Art. 14 ATT Nru. XVII ta' 1-1981 ACT Na. XVII of 1981 AN ACT .enacted by the Parliament ATT maħruġ b'liġi Art. 16 →