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

Chapter 10 : Administration of Act

Part 2 : Powers and functions of Prudential Authority

65. Determination of another jurisdiction as equivalent
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(1) The Prudential Authority may by notice on the official website determine that the requirements imposed by a foreign jurisdiction are equivalent to this Act if the Prudential Authority is satisfied that the laws, and supervisory and information sharing frameworks, established in that foreign jurisdiction meet the objects of this Act.

 

(2) The Prudential Authority may amend or repeal any determination under subsection (1) from time to time.