522
▲ a copy of
▲ and
such
copy so filed shall be
every
signed in the same
balance sheet relates, and A every report or letter which is referred to in any auditor's certificate appearing on any account or balance sheet so filed, A
7.--(1.) It shall be lawful for the Governor in Council Regulations.
manuer as is provided to make regulations prescribing :—
in the case of accounts and balance sheets by sub-section (3) of this
section.
[ ]
(a) the manner in which, and the conditions under which, deposits shall be made, maintained, substituted, transferred, withdrawn. or made available for the liabilities of the insurance
company;
(b) the manner of dealing with deposits generally; (c) the nature of the securities to be accepted, and the manner of valuation of securities deposited or proposed to be deposited;
() the filing of statements and other documents by insurance companies, the auditing of the accounts of insurance companies, and the actuarial examination of the assets and liabili- ties and financial condition of insurance com- panies; and
(e) the fees to be payable in respect of acts done or documents filed or registered under this Ordinance.
(2.) The regulations contained in the First Schedule to this Ordinance shall be in force until rescinded or amended.
8. If any statement or other document required under False state- this Ordinance is false in any particular to the knowledge ments, and documents, of any person who sigus it, or who files it or publishes it 9 Edw. 7. in any other manner, that person shall be guilty of a
c. 49, s.. 24. misdemeanour and be liable upon conviction on indictment to fine and imprisonment or upon summary conviction to a finc not exceeding five hundred dollars.
examination.
9. If any audit or actuarial examination is ordered or Obstructing prescribed under this Ordinance, and any director, manager, audit or secretary, or other officer or agent of the insurance com- pany fails to produce to the auditor or examiner on demand any account book or other document relating to the insurance company which it is in his power to produce or procure, or obstructs such audit or examination in any other way, he shall be guilty of a misdemeanour and shall be liable upon conviction on indictment to fine and impri- sonment or upon summary conviction to a fine not exceeding five hundred dollars.
Ordinance. 9 Edw. 7, c.
10. Every insurance company which makes default in Penalties for complying with any of the requirements of this Ordinance, non-com- shall be liable to a penalty not exceeding one thousand pliance with dollars, or, in the case of a continuing default, to a penalty not exceeding five hundred dollars for every day during 49, s. 23. which the default continues, and every director, manager, or secretary, or other officer or agent of the insurance company, who is knowingly a party to the default shall be fiable to a like penalty; and, in the case of an insurance company registered or existing under the Companies Or- dinances, 1911-1915, if default continue for a period of three months after notice of default by the Registrar of Com- panies (which notice shall be published in one or more news- papers as the Registrar of Companies may, upon the application of one or more policy holders or shareholders, direct), the default shall be a ground on which the Court may order the winding up of the insurance company, n accordance with the Companies Ordinances, 1911-1915.
[11.- (1.) It shall be lawful for the Governor in Council Power of to exempt, either wholly or partially, from making the exemption. deposit required under this Ordinance, any insurance com- pany which is a corporate body incorporated under the law of some part of His Majesty's dominious and which has made and is maintaining a deposit in respect of fire or marine insurance business under any enactment in force in the United Kingdom or in any British possession or protectorate, or which has made and is maintaining a deposit in respect of fire or marine insurance business
*