*Cap. 291.
nub. law.)
ot néén pl Djemtore VERACİE To be Insurta
marty.
Requdremembr
la respect of policies.
Certain condi-
to be of no
2
"owner" in relation to a pleasure vessel, includes the person who is deemed to be the owner thereof by virtue of the Merchant Shipping (Pleasure Vessels) Regulations: "pleasure vessel" means any launch, yacht, inflatable vessel, junk, forcha or other vessel which is licensed or liable to be licensed under the Merchant Shipping (Pleasure Vessels) Regulations.
107C. (1) No owner of a pleasure vessel may use, or cause or permit any other person to use, that pleasure vessel in the waters of the Colony unless there is in force in relation to the user of the vessel by such owner or that other person, as the case may be, such policy of insurance as complies with section 107D.
(2) If a person contravenes subsection (1) be commits an offence and is liable to a fine of $10,000 and to imprison- ment for 12 months.
1070, (1) For the purposes of section 107CX1) a policy of insurance must be a policy which-
(a) is issued by an authorized insurer; and
(b) insures such person, persons or classes of persons 46 may be specified in the policy in respect of any Liability which may be incurred by him or them in respect of the death of or bodily injury to any person caused by or arising out of the use of the pleasure vessel in the waters of the Colony :
Provided that such a policy shall not be required
to covar-
5) 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
OT
(i)) any contractual liability: or
Gill any liability in respect of any one accident or series of accidents arising out of the same event exceeding $600,000.
(2) Notwithstanding anything in any law, an authorized insurer issuing a policy of insurance under this section shall be liable to indemnify 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.
107E (1) Subject to subsection (2) any condition in a doos to palloles policy issued or given for the purposes of section 107C providing that no liability shall arise under the policy or that any liability go arising shall cease, in the event of some specified thing being done or omitted to be done after the happening of_the_event_giving rise to a claim under the policy, shall be of no effect in connexion with such claims as are mentioned in section 107D(176).
(2) Nothing in this section shall be taken to render void any provisions in a policy requiring the person insured
Djury of Lauren
30 mily
Lasured in pect of chird party
3
to repay to the insurer any sums which the latter may have become liable to pay under the policy and which have been applied to the satisfaction of the claims of third parties.
107F. (1) If, after a policy has been effected, judgment in respect of any such liability as is required to be covered by such policy under section 107D(1X6) (being a liability Judge Denas covered by the terms of the policy) is obtained against any person insured by the policy, then notwithstanding that the authorized insurer may be entitled to avoid or cancel, or may have avoided or cancelled, the policy, the authorized insurer shall, subject to this section, pay to the persons entitled to the beneft of the judgment any sum payable thereunder in respect of the Hability, including any amount payable in respect of costs and any sum payable in respect of interest on that sum by virtue of any law relating to interest on judgments:
Provided that where the liability covered by the policy is limited as provided by paragraph (il)) of the proviso to section 107D16) the authorized insurer shall not be required to pay any sum in excess of 3600,000,
(2) No sum shall be payable by an authorized insurer under subsection (1)
(a) in respect of any judgment, unless before or within 7 days after the commencement of the proceedinga in which the judgment was given, the authorized insurer had notice of the bringing of the proceedings;
or
(B) in respect of any judgment, so long as execution
thereon is stayed pending an appeal; or
(4) in connexion with any liability, if before the happen- ing of the event which was the cause of the death or bodily injury giving rise to the liability the policy was cancelled by mutual consent or by virtue of any provision contained therein, and either-
(0) before the happening of the said event the policy was surrendered to the authorized insurer, or the person in whose favour the policy was issued. made a statutory declaration stating that the policy had been lost or destroyed; or
(i) after the happening of the said event but before the expiration of a period of 14 days from the taking effect of the cancellation of the policy. the policy was surrendered to the authorized insurer, or the person in whose favour the policy was issued made such a statutory declaration as aforesaid.
(3) No sum shall be payable by an authorized_insurer under this section if, in an action commenced before, or within 3 months after, the commencement of the proceedings in which the judgment was given, he has obtained a declara- tion that, apart from any provision contained in the policy, he is entitled to avoid it on the ground that it was obtained by the non-disclosure of a material fact, or by a representa- tion of fact which was false in some material particular, or. if he has avoided the policy on that ground," that he was cntilled so to do apart from any provision contained in it: