52
CAP. 41]
Insurance Companies
FORM C
[1988 Ed.
[para. 3, 2nd Sch.]
1.
2.
PARTICULARS REQUIRED UNDER SECTION 14(2) IN RESPECT OF PERSONS CEASING TO BE DIRECTOR OR CONTROLLER
Name of Insurer of which person has ceased to be †Director/Controller. Name of person.*
3.
Date on which person ceased to be †Director/Controller.
4.
Reason for ceasing to be †Director/Controller.
Date
Signed
(Director/Secretary of the Insurer.)
* Insert name of individual or body corporate,
† Delete as necessary.
THIRD SCHEDULE
ACCOUNTS AND STATEMENTS
PART 1: INTERPRETATION AND PRELIMINARY
1) In this Schedule, unless the context otherwise requires
[ss. 17, 18, 22, 50 & 52]
"accounting class of general business" and "accounting class" mean respectively insurance business falling under any of the headings given below, against which are shown the corresponding classes of insurance business as defined in Part 3 of the First Schedule,-
1. Accident and health
Accounting class
2. Motor vehicle (including damage to other land vehicles),
damage and liability
3. Aircraft, damage and liability
4. Ships, damage and liability
5. Goods in transit
6. Property damage
7. General liability
8. Pecuniary loss
9. Non-proportional treaty reinsurance
10. Proportional treaty reinsurance
Corresponding classes of insurance business
1, 2
3, 10
5, 11
6, 12
7
4, 8, 9
13
14, 15, 16, 17
“additional amount for unexpired risks" means the amount set aside by an insurer at the end of its financial year, in addition to any unearned premiums, which is considered necessary to meet the cost of claims and expenses of settlement arising from risks to be borne by the insurer after the end of the financial year under contracts of insurance entered into before the end of that year; "appointed actuary" means the person appointed as actuary to an insurer under section 15 of this
Ordinance;
“appointed auditor" means the person appointed as auditor to an insurer under section 15 of this
Ordinance;
“claim” means a claim against an insurer under a contract of insurance;
"claims equalization" means the amount set aside by an insurer as at the end of its financial year for the purpose of being used to prevent exceptional fluctuations in the amounts charged to revenue in subsequent financial years in respect of claims arising due to the occurrence of events of an exceptional nature, that is to say, events not normally occurring every year; "claims outstanding" means, unless otherwise specified, the amount set aside by an insurer as at the
beginning or end of its financial year as being an amount likely to be sufficient to meet-
52
CAP. 41]
Insurance Companies
FORM C
[1988 Ed.
[para. 3, 2nd Sch.]
1.
2.
PARTICULARS REQUIRED UNDER SECTION 14(2) IN RESPECT OF PERSONS CEASING TO BE DIRECTOR OR CONTROLLER
Name of Insurer of which person has ceased to be †Director/Controller. Name of person.*
3.
Date on which person ceased to be †Director/Controller.
4.
Reason for ceasing to be †Director/Controller.
Date
Signed
(Director/Secretary of the Insurer.)
* Insert name of individual or body corporate,
† Delete as necessary.
THIRD SCHEDULE
ACCOUNTS AND STATEMENTS
PART 1: INTERPRETATION AND PRELIMINARY
1)in this Schedule, unless the context otherwise requires
[ss. 17, 18, 22, 50 & 52]
"accounting class of general business" and "accounting class" mean respectively insurance business falling under any of the headings given below, against which are shown the corresponding classes of insurance business as defined in Part 3 of the First Schedule,-
1. Accident and health
Accounting class
2. Motor vehicle (including damage to other land vehicles),
damage and liability
3. Aircraft, damage and liability
4. Ships, damage and liability
5. Goods in transit
6. Property damage
7. General liability
8. Pecuniary loss
9. Non-proportional treaty reinsurance
10. Proportional treaty reinsurance
Corresponding classes of insurance business
1,2 3,10
5, 11
6, 12
7
4, 8,9
13
14, 15, 16, 17
“additional amount for unexpired risks" means the amount set aside by an insurer at the end of its financial year, in addition to any unearned premiums, which is considered necessary to meet the cost of claims and expenses of settlement arising from risks to be borne by the insurer after the end of the financial year under contracts of insurance entered into before the end of that year; "appointed actuary" means the person appointed as actuary to an insurer under section 15 of this
Ordinance;
“appointed auditor" means the person appointed as auditor to an insurer under section 15 of this
Ordinance;
“claim” means a claim against an insurer under a contract of insurance;
"claims equalization" means the amount set aside by an insurer as at the end of its financial year for the purpose of being used to prevent exceptional fluctuations in the amounts charged to revenue in subsequent financial years in respect of claims arising due to the occurrence of events of an exceptional nature, that is to say, events not normally occurring every year; "claims outstanding" means, unless otherwise specified, the amount set aside by an insurer as at the
beginning or end of its financial year as being an amount likely to be sufficient to meet-
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