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EXPLANATORY DOCUMENT SUPPORTING …
Page 1 of 90 EXPLANATORY DOCUMENT SUPPORTING consultation amendment OF THE REGULATIONS UNDER THE LONG-TERM INSURANCE ACT, 1998 AND SHORT-TERM INSURANCE ACT, 1998 December 2016 Page 2 of 90 Contents PART I: INTRODUCTION .. 3 1. BACKGROUND .. 3 2. INSURANCE REGULATORY REFORMS IN THE CONTEXT OF TWIN PEAKS .. 3 3. CONDUCT OF BUSINESS REGULATORY REFORMS TO BE GIVEN EFFECT TO IN TRANCHES .. 4 4. SCOPE OF TRANCHE 1 CONDUCT OF BUSINESS REGULATORY REFORMS: REGULATIONS AND PPRs .. 4 5. SCOPE AND TIMING OF, AND APPROACH TO, TRANCHE 1 REGULATORY FRAMEWORK CONDUCT OF BUSINESS REFORMS: REGULATIONS .. 5 Scope .. 5 Approach .. 5 Timing .. 6 6. STRUCTURE OF THIS DOCUMENT .. 6 7. consultation .. 6 PART II: AMENDMENTS TO THE REGULATIONS MADE UNDER THE LONG-TERM INSURANCE ACT, 1998 .. 7 PART III: AMENDMENTS TO THE REGULATIONS UNDER THE SHORT-TERM INSURANCE ACT, 1998 .. 62 PART IV: NOTES .. 87 NOTE 1: APPROACH ADOPTED IN RESPECT OF THE DEFINITIONS OF INDEPENDENT INTERMEDIARY , REPRESENTATIVE AND SERVICES AS INTERMEDIARY.
page 1 of 90 explanatory document supporting consultation amendment of the regulations under the long-term insurance act, 1998 and short-term insurance act, 1998
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