MERCHANT SHIPPING (LOCAL VESSELS) (COMPULSORY THIRD PARTY RISKS INSURANCE) REGULATION
24 of 2005; L.N. 195 of 2006; L.N. 282 of 2006
Application for approval as approved insurer
APPROVAL OF, SUSPENSION AND REVOCATION OF APPROVAL OF,
(1) Any protection and indemnity association may make an application in writing to the Director for approval to be an insurer for the purposes of the Ordinance.
(2) A protection and indemnity association that makes an application under this section shall furnish the Director with such information in such form as the Director may require for the purpose of determining the application.
(3) A protection and indemnity association shall notify the Director in writing of any change in the information furnished by it under subsection (2) within 14 days after the date of the change.
(4) A protection and indemnity association that contravenes subsection (3) commits an offence and is liable on conviction to a fine at level 2.
(5) Any person who by virtue of section 20 is guilty of an offence under subsection (4) is liable on conviction to a fine at level 2 and to imprisonment for 3 months.