Insurance Act, 2017 (Act No. 18 of 2017)

Chapter 7 : Reporting and Public Disclosures

49. Additional matters relating to Chapter

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(1) If the Prudential Authority reasonably believes that any information provided in accordance with this Chapter is incomplete or incorrect, the Prudential Authority may—
(a) direct the insurer or controlling company to provide the Prudential Authority, within a specified period, with specified information or documents to complete or correct information; or
(b) reject the information and direct the insurer or controlling company to provide the Prudential Authority, within a specified period, with new information which is complete and correct.

 

(2) If the Prudential Authority reasonably believes that information or a part thereof requires further investigation, the Prudential Authority may direct the insurer or controlling company to provide additional information or to secure a report from a person to be approved by the Prudential Authority, at the cost of the insurer or controlling company, by a specified date or within a specific period, and in the form, manner and containing the information as required by the Prudential Authority.