No. 80/1940:

INSURANCE REGULATIONS, 1940.

INSURANCE REGULATIONS, 1940.

WHEREAS it is enacted by section 5 of the Insurance Act, 1936 (No. 45 of 1936), that the Minister for Industry and Commerce may by order make regulations in relation to any matter or thing referred to in the said Act as prescribed or to be prescribed and for the prescription of which no other provision is made by the said Act :

AND WHEREAS the matters or things to which these regulations relate are matters and things which are referred to in Parts II, V and VII of the said Act as prescribed or to be prescribed and for the prescription of which no other provision is made by the said Act :

NOW, the Minister for Industry and Commerce in exercise of the powers conferred on him by the Insurance Act, 1936 (No. 45 of 1936), and of every and any other power him in this behalf enabling, and, in so far as these regulations relate to the amount or the fixing of a fee, with the consent of the Minister for Finance, hereby orders and makes the following regulations :—

1.—(1) These Regulations may be cited as the Insurance Regulations, 1940.

(2) These Regulations shall come into operation immediately upon the making thereof.

2. The Interpretation Act, 1937 (No. 38 of 1937), applies to these Regulations.

3. In these Regulations—

the expression " the Minister " means the Minister for Industry and Commerce ;

the expression " the Act " means the Insurance Act, 1936 (No. 45 of 1936).

4. Every application made under section 11 of the Act for an assurance licence shall be in writing in the Form No. 1 in the Schedule hereto and shall, when filled in and completed by or on behalf of the applicant for such licence, be sent by post to or left with the Secretary of the Department of Industry and Commerce, Dublin, and shall, when being so sent or left (as the case may be), be accompanied by a fee of twenty-five pounds.

5. The time within which a foreign company in relation to which section 13 of the Act applies shall pursuant to paragraph (a) of that section, notify to the Registrar of Companies any alteration in the rules or other instrument defining the constitution of such company and filed with such Registrar shall be twenty-one days after particulars of such alteration could, if despatched by such company immediately after the making of such alteration, have been received in due course of post by such Registrar from the country in which such company is incorporated or otherwise constituted.

6. The time within which the Chairman of Lloyd's shall, pursuant to paragraph (a) of section 14 of the Act, notify to the Registrar of Companies any alteration in the membership of a syndicate shall be—

(a) in case such alteration is made in January, February, or March in any year, the first seven days of April in that year,

(b) in case such alteration is made in April, May, or June in any year, the first seven days of July in that year,

(c) in case such alteration is made in July, August, or September in any year, the first seven days in October in that year, or

(d) in case such alteration is made in October, November, or December in any year, the first seven days in January in the following year.

7.—(1) Every assurance licence (other than an assurance licence granted pursuant to subsection (4) or subsection (9) of section 12 of the Act or granted to a syndicate) shall be in the Form No. 2 in the Schedule hereto.

(2) Every assurance licence granted pursuant to subsection (4) or subsection (9) of section 12 of the Act shall be in the Form No. 3 in the Schedule hereto.

(3) Every assurance licence granted to a syndicate shall be in the Form No. 4 in the Schedule hereto.

8.—(1) Every application made under subsection (1) of section 20 of the Act by a licensee for the alteration of an assurance licence granted to such licensee shall be in the Form No. 5 in the Schedule hereto.

(2) Every application made under subsection (1) of section 20 of the Act by a licensee for the revocation of an assurance licence granted to such licensee shall be in the Form No. 6 in the Schedule hereto.

(3) Every application made under subsection (1) of section 20 of the Act by a licensee for the alteration or revocation (as the case may be) of an assurance licence granted to such licensee shall when filled in and completed by such licensee be sent by post to or left with the Secretary, Department of Industry and Commerce, Dublin.

9. Every notice which one industrial assurance company is required by sub-section (1) of Section 68 of the Act to serve on another industrial assurance company in the circumstances mentioned in the said subsection shall be in the Form No. 7 in the Schedule hereto.

10.—(1) Every return which an assurance company is required by subsection (1) of section 98 of the Act to furnish to the Minister in respect of the re-insurance of each class of assurance business other than life assurance business or industrial assurance business shall be in the Form No. 8 in the Schedule hereto.

(2) Four copies of every such return shall be sent by post to or be left with the Secretary, Department of Industry and Commerce, Dublin, and one of such copies shall be signed by the same persons as are required by the Insurance Acts, 1909 and 1936, to sign the balance sheet of an assurance company.

11.—(1) Every return which an assurance company is required by subsection (2) of section 98 of the Act to furnish to the Minister in respect of the re-insurance of life assurance business or industrial assurance business or both such businesses shall be in the Form No. 9 in the Schedule hereto.

(2) Four copies of every such return shall be sent by post to or be left with the Secretary, Department of Industry and Commerce, Dublin, and one of such copies shall be signed by the same persons as are required by the Insurance Acts, 1909 and 1936, to sign the balance sheet of an assurance company.

SCHEDULE.

Form No. 1.

INSURANCE ACT, 1936 .

FORM OF APPLICATION MADE UNDER SECTION 11 OF THE ABOVE-MENTIONED ACT FOR AN ASSURANCE LICENCE.

PARTICULARS TO BE FURNISHED BY APPLICANT FOR ASSURANCE LICENCE.

1. Name of applicant * ............................................................ .................................................

............................................................ ............................................................ .......................................................

............................................................ ............................................................ .......................................................

............................................................ ............................................................ .......................................................

............................................................ ............................................................ .......................................................

............................................................ ............................................................ .......................................................

2. Registered or principal office within the State............................................................ .......................................

............................................................ ............................................................ ............................................................ ...

3. State whether applicant is an Irish company, a foreign company, or a syndicate

............................................................ ............................................................ .......................................................

............................................................ ............................................................ ............................................................ ...

4. Class or classes of assurance business carried on in Saorstát Éireann by the applicant on the 31st day of October, 1935.

............................................................ ............................................................ .......................................................

............................................................ ............................................................ .......................................................

............................................................ ............................................................ .......................................................

5. Class or classes of assurance business which the applicant proposes to carry on.

............................................................ ............................................................ .......................................................

............................................................ ............................................................ .......................................................

............................................................ ............................................................ .......................................................

6. Class or classes of any assurance business included at 5 above in respect of which an assurance licence is required only temporarily pursuant to either subsection (4) or subsection (9) of section 12 of the Act.

............................................................ ............................................................ ......................................................

............................................................ ............................................................ ......................................................

* If a syndicate, state names of all the members comprising the syndicate, and the identification number assigned to such syndicate.

7. If the application for an assurance licence is made by an assurance company pursuant to paragraphs (a), (b) or (c) of subsection (11), or subsection (12), or subsection (13) of section 12 of the Act, the paragraph (if any) and subsection should be specified.

............................................................ ............................................................ .....................................................

............................................................ ............................................................ .....................................................

............................................................ ............................................................ .....................................................

8. If the applicant is not an Irish company, state whether the applicant has, as the case may be, complied with the requirements of—

(i) paragraphs (b), (c), (d) and (e) of subsection (7) of section 12, or

(ii) paragraphs (b), (c), and (d) of subsection (8) of section 12 or

(iii) paragraphs (b) and (c) of subsection (14) of section 12.

............................................................ ............................................................ .....................................................

............................................................ ............................................................ .....................................................

............................................................ ............................................................ .....................................................

The                        hereby makes application to the Minister for Industry and Commerce for an assurance licence authorising it to carry on assurance business of the following class or classes—

............................................................ ............................................................ ............................................................ 

............................................................ ............................................................ ............................................................ 

............................................................ ............................................................ ............................................................ 

............................................................ ............................................................ ............................................................ 

NOTE: This paragraph should be struck out if not applicable.

In respect of the following class or classes of assurance business............................................................ 

............................................................ ............................................................ ............................................................ 

............................................................ ............................................................ ............................................................ 

............................................................ ............................................................ ............................................................ 

the assurance licence applied for is required only pending the completion of arrangements for the transfer of the applicant's assurance business or businesses of the class or classes mentioned to some other * company or companies licensed under the Act to carry on such business or businesses.

For and on behalf of............................................................ ....................................................

Signature............................................................ .....................................................

Position, authority or qualification of person signing :

............................................................ 

............................................................ 

Date............................................................ ............................................................ ....................

* Strike out whichever is inapplicable.

Form No. 2.

INSURANCE ACT, 1936 .

ASSURANCE LICENCE.

Subject to the provisions of the Insurance Act, 1936 , the Minister for Industry and Commerce by this licence hereby authorises....................................to carry on as from the.........day of........................................, 19........., assurance business of the following class or classes :—

............................................................ ............................................................ ............................................................ 

............................................................ ............................................................ ............................................................ 

............................................................ ............................................................ ............................................................ 

............................................................ ............................................................ ............................................................ 

Given under the Official Seal of the Minister for Industry and Commerce, this...............day of...................................................., 19..............

Secretary,

Department of Industry and Commerce.

Form No. 3.

INSURANCE ACT, 1936 .

TEMPORARY ASSURANCE LICENCE.

Subject to the provisions of the Insurance Act, 1936 , the Minister for Industry and Commerce by this licence hereby authorises.......................................... to carry on temporarily, as from the.........day of.........................................., 19.............., assurance business of the following class or classes :—

............................................................ ............................................................ ............................................................ 

............................................................ ............................................................ ............................................................ 

............................................................ ............................................................ ............................................................ 

............................................................ ............................................................ ............................................................ 

This licence shall remain in force pending the completion of arrangements for the transfer of the class or classes of assurance business to which it relates to some other assurance company or companies under the Insurance Act, 1936 , and may be revoked by the Minister for Industry and Commerce on the completion of such arrangements and shall, in any event, be revoked by the said Minister, at the expiration of nine months after the date hereof.

Given under the Official Seal of the Minister for Industry and Commerce, this................day  of................................................., 19..........

Secretary,

Department of Industry and Commerce.

Form No. 4.

INSURANCE ACT, 1936 .

ASSURANCE LICENCE.

Subject to the provisions of the Insurance Act, 1936 , the Minister for Industry and Commerce by this licence hereby authorises a syndicate comprising the following persons—

.......................................... of ............................................................ ................................

.......................................... of ............................................................ ................................

.......................................... of ............................................................ ................................

.......................................... of ............................................................ ................................

.......................................... of ..........................................

to carry on as from the ......... day of...................................., 19........., assurance business of the following class or classes :—

............................................................ ............................................................ ...........................................................

............................................................ ............................................................ ...........................................................

............................................................ ............................................................ ...........................................................

............................................................ ............................................................ ...........................................................

Given under the Official Seal of the Minister for Industry and Commerce, this ......... day of ........................................., 19.............

Secretary,

Department of Industry and Commerce.

Form No. 5.

INSURANCE ACT, 1936 .

FORM OF APPLICATION MADE UNDER SECTION 20 OF THE ABOVE-MENTIONED ACT FOR ALTERATION OF ASSURANCE LICENCE.

To the Minister for Industry and Commerce :

Insert name of company or, if a syndicate, the names of the members and the identification number assigned to such syndicate.

............................................................ ............................................................ ..........................................................

............................................................ ............................................................ ..........................................................

being authorised by assurance licence dated the............. day of ................................, 19........., to carry on assurance business of the following class or classes :—

Here set out the class or classes of assurance business.

............................................................ ............................................................ ..........................................................

............................................................ ............................................................ ..........................................................

............................................................ ............................................................ ..........................................................

hereby makes application, pursuant to subsection (1) of section 20 of the Insurance Act, 1936 , for the alteration of such licence as follows :—

............................................................ ............................................................ ..........................................................

............................................................ ............................................................ ..........................................................

............................................................ ............................................................ ..........................................................

............................................................ ............................................................ ..........................................................

............................................................ ............................................................ ..........................................................

............................................................ ............................................................ ..........................................................

For and on behalf of............................................................ 

Signature............................................................ 

Position, authority or qualification of person signing :

............................................................ 

............................................................ 

Date............................................................ ........................

Form No. 6.

INSURANCE ACT, 1936 .

FORM OF APPLICATION MADE UNDER SECTION 20 OF THE ABOVE-MENTIONED ACT FOR REVOCATION OF ASSURANCE LICENCE.

To the Minister for Industry and Commerce:

............................................................ ............................................................ ...........................................................

............................................................ ............................................................ ..........................................................

............................................................ ............................................................ ..........................................................

Insert name of company or, if a syndicate, the names of the members and the identification number assigned to such syndicate.

being authorised by assurance licence dated the......... day of................................., 19............., to carry on assurance business of the following class or classes :—

Here set out the class or classes of assurance business.

............................................................ ............................................................ ...........................................................

............................................................ ............................................................ ...........................................................

............................................................ ............................................................ ...........................................................

hereby makes application, pursuant to subsection (1) of section 20 of the Insurance Act, 1936 , for the revocation of such licence.

For and on behalf of............................................................ ..........................................

Signature............................................................ 

Position, authority or qualification of person signing:

............................................................ 

............................................................ 

Date............................................................ ........................

INSURANCE ACT, 1936 .

FORM OF NOTICE TO BE GIVEN UNDER SECTION 68 OF THE ABOVE MENTIONED ACT BY ONE INDUSTRIAL ASSURANCE COMPANY TO ANOTHER INDUSTRIAL ASSURANCE COMPANY.

Pursuant to subsection (1) of section 68 of the Insurance Act, 1936 , notice is hereby given by............................................................ ................................................(name of Company by which notice is given) that it has, on the......... day of...................................................., 19........., received a proposal from............................................................  of .........................................................(name and address of proposer) for a policy of industrial assurance which is intended to replace and be in lieu of a policy of industrial assurance numbered..............................issued by ................................................... (name of Company which issued the policy) on the life of............................................................ ................

The terms of and the rights under the latter policy are as follows :—

............................................................ ............................................................ ............................................................ ......

............................................................ ............................................................ ............................................................ ......

............................................................ ............................................................ ............................................................ ......

............................................................ ............................................................ ............................................................ ......

............................................................ ............................................................ ............................................................ ......

The terms of the said proposal are as follows :—

............................................................ ............................................................ ............................................................ ......

............................................................ ............................................................ ............................................................ ......

............................................................ ............................................................ ............................................................ ......

............................................................ ............................................................ ............................................................ ......

............................................................ ............................................................ ............................................................ ......

............................................................ ............................................................ ............................................................ ......

The terms of and the rights under the policy intended to be issued pursuant to the said proposal are as follows :—

............................................................ ............................................................ ............................................................ .....

............................................................ ............................................................ ............................................................ .....

............................................................ ............................................................ ............................................................ .....

............................................................ ............................................................ ............................................................ .....

............................................................ ............................................................ ............................................................ .....

Signed on behalf of (name of Company giving the notice) :

.......................................................

Signature.............................

Position, authority or qualification of person signing :

..............................................

..............................................

Date..........................................

To.......................................................

............................................................ 

............................................................ 

Name of assurance company............................................................ ............................................................ ................

RETURN OF RE-INSURANCE BUSINESS PURSUANT TO SUBSECTION (1) OF SECTION 98 of THE INSURANCE ACT, 1936 , IN RESPECT OF THE ACCOUNTING YEAR ENDED 19..........

Statement of the amounts of the premiums and claims (in respect of liability, loss, or damage to arise (if at all) within the State) of (a) that part of the company's assurance business which has been re-insured by the company during such accounting year, and (b) all assurance business which is re-insured with and is accepted by way of re-insurance by the company in such accounting year.

Signatures:

Note: This return must be signed by the same persons as are required to sign the Balance Sheet submitted pursuant to the Insurance Acts, 1909 and 1936.

Name of assurance company............................................................ ....................................

RETURN OF RE-INSURANCE IN RESPECT OF ASSURANCE BUSINESS PURSUANT TO SUBSECTION (2) OF SECTION 98 of THE INSURANCE ACT, 1936 , IN RESPECT OF THE ACCOUNTING YEAR ENDED................................., 19......

Statement of the sums debited and credited during such accounting year for re-insurance in respect of life assurance business and industrial assurance business within the State.

Signatures:

Note: This return must be signed by the same persons as are required to sign the Balance Sheet submitted pursuant to the Insurance Acts, 1909 and 1936.

Given under the Official Seal of the Minister for Industry and Commerce, this 21st day of February, 1940.

R. C. FERGUSON,

Secretary,

Department of Industry and Commerce.

The Minister for Finance hereby consents to the making of the foregoing Regulations in so far as the same relate to the amount of the fixing of a fee.

Given under the Official Seal of the Minister for Finance, this 1st day of March, 1940.

J. J. McELLIGOTT,

Secretary,

Department of Finance.