CAP. 34]
Fire and Marine Insurance Companies Deposit.
FIRE AND MARINE INSURANCE COMPANIES DEPOSIT.
FORMS.
(Cap. 34, section 6(1)).
(Ordinance No. 32 of 1917).
For forms prescribed by the Fire and Marine Insurance Companies Deposit Ordinance, see the Schedule to that Ordinance.
Ord. 32 of 1917, s. 7, First Schedule.
G.N. 809/40.
(Cap. 34).
INSURANCE DEPOSIT (FIRE AND MARINE) REGULATIONS.
(Cap. 34, section 7).
(Ordinance No. 32 of 1917).
[28th December, 1917.]
1. The value of any securities deposited with the Registrar under section 5 of the Ordinance shall be the market value on the day on which they are so deposited.
2. The company shall prove the market value thereof to the satisfaction of the Registrar and shall pay to the Registrar a fee of twenty-five cents for every hundred dollars of such market value.
3. The company shall before depositing such securities transfer the legal ownership therein to the Registrar.
4. If at any time the Registrar is of opinion that any securities have fallen below their value at the date of deposit he may require the company to make up the difference in value by the deposit of further securities; and the fees payable on such further deposit shall be charged at the rate set out in regulation 2.
5. If the company is dissatisfied with any such requirement it may appeal to the Governor in Council who shall thereupon determine whether any further deposit is necessary, and if so to what amount.
Page 212
CAP. 34]
Fire and Marine Insurance Companies Deposit.
FIRE AND MARINE INSURANCE COMPANIES DEPOSIT.
FORMS.
(Cap. 34, section 6(1)).
(Ordinance No. 32 of 1917).
For forms prescribed by the Fire and Marine Insurance Companies Deposit Ordinance, see the Schedule to that Ordinance.
Ord. 32 of 1917, s. 7, First Schedule.
G.N. 809/40.
(Cap. 34).
INSURANCE DEPOSIT (FIRE AND MARINE)
REGULATIONS.
(Cap. 34, section 7).
(Ordinance No. 32 of 1917).
[28th December, 1917.]
1. The value of any securities deposited with the Registrar under section 5 of the Ordinance shall be the market value on the day on which they are so deposited.
2. The company shall prove the market value thereof to the satisfaction of the Registrar and shall pay to the Registrar a fee of twenty-five cents for every hundred dollars of such market value.
3.
The company shall before depositing such securities transfer the legal ownership therein to the Registrar.
4. If at any time the Registrar is of opinion that any securities have fallen below their value at the date of deposit he may require the company to make up the differ- ence in value by the deposit of further securities; and the fees payable on such further deposit shall be charged at the rate set out in regulation 2.
5. If the company is dissatisfied with any such requirement it may appeal to the Governor in Council who shall thereupon determine whether any further deposit is necessary, and if so to what amount.
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