Requiro- ments in respect of Becurities. 20 & 21 Geo. 5,
c. 46, s. 37.
6
arising out of the use of the motor vehicle on a road! Provided that such a policy shall not be required u
cover-
() liability in respect of the death arising out of and in the course of his employment of a person in the employment of a person insured by the policy or of bodily injury sustained by such a person arising out of and in the course of his employment; or
(ii) except in the case of a motor vehicle in which passengers are carried for hire or reward or by reason of or in pursuance of a contract of employment, liability in respect of the death of or bodily injury to person being carried in or upon or entering or getting on to or alighting from the motor vehicle at the time of the occurrence of the event out of which the claims arise; of
(ii) any contractual liability.
(2) Notwithstanding anything in any law, a person issuing a policy of insurance under this section shall be liable to indem nify the persons or classes of persons specified in the policy in respect of any liability which the policy purports to cover in the case of those persons or classes of persons.
(3) A policy shall be of no effect for the purposes of this Ordinance unless and until there is issued by the insurer in favour of the person by whom the policy is effected a certificate (in this Ordinance referred to as a "certificate of insurance") in thị prescribed form and containing such particulars of any conditiong subject to which the policy is issued and of any other matters as may be prescribed, and different forms and different particulars may be prescribed in relation to different cases or circumstances.
7. (0) In order to comply with the requirements of this Ordinance a security in respect of third party risks must-
(a) be given either by an authorized insurer or by some body of persons which carries on in this Colony the business of giving securities of a like kind and which-
(i) has deposited and keeps deposited with the Accountant General the sum of two hundred thousand dollars in respect of that business; or
(i) has been exempted by the Authority, under the provisions of subsection (2) from the obligation to make such deposit;
(b) consist of an undertaking by the giver of the security to make good, subject to any conditions specified therein, and up to the amount, in the case of an undertaking
carrying on the business of transporting for hire or reward passengers by motor vehicles, of not less than four hundred thousand dollars and, in any other case, of not less than eighty thousand dollars, any failure by the owner of the vehicle or such other persons or classes of persons as may be specified in the security duly to discharge any such liability as is required to be covered by a policy of insurance under the last preceding section which may be incurred by him or them.
(2) The Authority may grant exemption from the obligation to make a deposit under paragraph (a) of subsection (1), either in relation to any specific body of persons or in relation to any class of body of persons: Provided that the Authority shall not grant exemption as aforesaid unless the Authority is satisfied as to the financial stability of the body of persons, or the body of persons of the class in question, as the case may be.
(3) The provisions of section 5 shall apply mudafis mutandis in relation to any deposit made under paragraph (a) of subsection (1) of this section, subject to the modification that for paragraph (d) of the said section 5 there shall be substituted the following paragraph-
"(d) subject to the provisions of paragraph (f) of this section, the deposit shall be retained by the Account- ant General so long as the depositor carries on in this Colony the business in respect of which the deposit is made;",
(4) A security shall be of no effect for the purposes of this Ordinance unless and until there is issued by the person giving the security in favour of the person to whom it is given a certificate (in this Ordinance referred to as a "certificate of security") in the prescribed form and containing such particulars of any condition subject to which the security is issued and of any other matters as may be prescribed in relation to different cases or circumstances.
8. (c) Where any payment is made (whether or not with Liability to an admission of liability) by
pay certain hospital (a) an insurer under or in consequence of a policy issued expenses.
under this Ordinance; or
(b) the owner of a motor vehicle in relation to the user of
which a security under this Ordinance is in force; or (e) the owner of a motor vehicle who has made a deposit
under this Ordinance,
20 & 21 Geo. 5, c. 43. 5. 34, 3.3. (2). 27 & 24
Gea, 6,
c. 53, s. 33.