Ending licence suspension

Current

(1)

The MAI commission may end the suspension of an MAI insurer licence only if the MAI commission believes on reasonable grounds that the licensed insurer is able to comply with the requirements that would be imposed on the insurer if it were issued with a licence for the first time.

(2)

If the MAI commission ends a suspension, the MAI commission must give a written notice to the licensed insurer stating when the suspension ends.

This Act’s bill:Explanatory statement Second reading speech

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386 Ending licence suspension