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reg 19

Information about insurance cover — licensed corporations

In force

19 Information about insurance cover — licensed corporations

(1)

For the purposes of section 54(1), the information in relation to the insurance cover that is in effect in respect of a licensed corporation is a document from the insurer or a broker showing —

(a)

the period in respect of which the insurance cover is in effect; and

(b)

the amount of the insurance cover; and

(c)

the categories of persons in respect of whose acts and omissions the insurance cover applies.

(2)

For the purposes of section 54(2), the time for giving the information referred to in subregulation (1) is —

(a)

in the case of the initial grant of the licence, 28 days after the day on which the licensed corporation is advised of the grant of the licence; and

(b)

in the case of a renewal of a licence, 14 days after the day on which the licensed corporation is advised of the renewal; and

(c)

in any case where the insurer, the period of insurance or the amount or type of cover is changed after the period mentioned in paragraph (a) or (b), 14 days after the change occurs.

[Regulation 19 amended: SL 2022/121 r. 8.]

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