Regulation 4 - The provisions of this Chapter shall not be applicable to an IIO set up in an unincorporated form...
International Financial Services Centres Authority (Management Control, Administrative Control and Market Conduct of Insurance Business) Regulations, 2023 Chapter II CHANGE IN SHAREHOLDING PATTERN AND MANAGEMENT CONTROL
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Unincorporated IIOs remain outside change-control provisions, while parent entities retain notification, capital, solvency and liability commitments. Unincorporated IIOs are excluded from the Chapter II requirements governing changes in shareholding pattern and management control. Their Parent Entities ... Summary
Unincorporated IIOs remain outside change-control provisions, while parent entities retain notification, capital, solvency and liability commitments.
Unincorporated IIOs are excluded from the Chapter II requirements governing changes in shareholding pattern and management control. Their Parent Entities must immediately notify the Authority of any such changes and ensure that undertakings concerning assigned capital or solvency margin and insurance or re-insurance liabilities remain valid after the change.
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