28
CAP. 329]
Marine Insurance.
[1964 Ed.
Saving,
6 Edw. 7 c. 41. s. 91.
Prohibition of gambling on
loss by maritime
perils.
9 Edw. 7 c. 12, s. 1.
"movables" means any movable tangible property, other than the ship, and includes money, valuable securities, and other documents; and
"policy" means a marine policy.
91. The rules of the common law including the law merchant, save in so far as they are inconsistent with the express provisions of this Ordinance, shall continue to apply to contracts of marine insurance.
92. (1) If
(a) any person effects a contract of marine insurance without having any bona fide interest, direct or indirect, either in the safe arrival of the ship in relation to which the contract is made or in the safety or preservation of the subject-matter insured, or a bona fide expectation of acquiring such an interest; or
(b) any person in the employment of the owner of a ship, not being a part owner of the ship, effects a contract of marine insurance in relation to the ship, and the contract is made "interest or no interest", or "without further proof of interest than the policy itself", or "without benefit of salvage to the insurer", or subject to any other like term,
the contract shall be deemed to be a contract by way of gambling on loss by maritime perils, and the person effecting it shall be guilty of an offence, and shall be liable, on conviction, to imprisonment for a term not exceeding six months or to a fine not exceeding two thousand dollars, or to both such fine and imprisonment and in either case to forfeit to the Crown any money he may receive under the contract. (Amended, 13 of 1966, Schedule)
(2) Any broker or other person through whom, and any insurer with whom, any such contract is effected shall be guilty of an offence and liable on conviction to the like penalties if he acted knowing that the contract was by way of gambling on loss by maritime perils within the meaning of this section.
(3) Proceedings under this section shall not be instituted without the consent of the Attorney General.
(4) Proceedings shall not be instituted under this section against a person (other than a person in the employment of the owner of the ship in relation to which the contract was made) alleged to have effected a contract by way of gambling on loss by maritime perils until an opportunity has been afforded him of showing that the contract was not such a contract as aforesaid, and any information given by that person for that purpose shall not be admissible in evidence against him in any prosecution under this section.
28
CAP. 329]
Marine Insurance.
[1964 Ed.
Saving,
6 Edw. 7 c. 41. s. 91.
Prohibition of gambling on
loss by maritime
perils.
9 Edw. 7 c. 12, s. 1.
"movables" means any movable tangible property, other than the ship, and includes money, valuable securities, and other docu- ments; and
"policy" means a marine policy.
91. The rules of the common law including the law mer- chant, save in so far as they are inconsistent with the express provisions of this Ordinance, shall continue to apply to contracts of marine insurance.
92. (1) If→
(a) any person effects a contract of marine insurance with- out having any bona fide interest, direct or indirect, either in the safe arrival of the ship in relation to which the contract is made or in the safety or preservation of the subject-matter insured, or a bona fide expectation of acquiring such an interest; or
(b) any person in the employment of the owner of a ship, not being a part owner of the ship, effects a contract of marine insurance in relation to the ship, and the contract is made "interest or no interest", or "without further proof of interest than the policy itself", or "without benefit of salvage to the insurer", or subject to any other like term,
the contract shall be deemed to be a contract by way of gambling on loss by maritime perils, and the person effecting it shall be guilty of an offence, and shall be liable, on conviction, to impris- onment for a term not exceeding six months or to a fine not exceeding two thousand dollars, or to both such fine and impris- onment and in either case to forfeit to the Crown any money he may receive under the contract. (Amended, 13 of 1966, Schedule)
(2) Any broker or other person through whom, and any insurer with whom, any such contract is effected shall be guilty of an offence and liable on conviction to the like penalties if he acted knowing that the contract was by way of gambling on loss by maritime perils within the meaning of this section.
(3) Proceedings under this section shall not be instituted without the consent of the Attorney General.
(4) Proceedings shall not be instituted under this section against a person (other than a person in the employment of the owner of the ship in relation to which the contract was made) alleged to have effected a contract by way of gambling on loss by maritime perils until an opportunity has been afforded him of showing that the contract was not such a contract as aforesaid, and any information given by that person for that purpose shall not be admissible in evidence against him in any prosecution under this section.
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