Insurance Act, 2017 (Act No. 18 of 2017)Chapter 11 : General Provisions71. Special exemption of certain insurers |
| (1) | The following persons are exempt from section 22(1)(a)(iii) of this Act: |
| (a) | A mutual association licensed under section 30(1) of the Compensation for Occupational Injuries and Diseases, 1998 (Act No. 130 of 1998), at the date on which this Act comes into operation for as long as it remains so licensed; |
| (b) | the AVBOB Mutual Assurance Society established in terms of the AVBOB Mutual Assurance Society Incorporation (Private) Act, 1951 (Act No. 7 of 1951); |
| (c) | the Attorney Insurance Fidelity Fund NPC (registration number 1993/03588/ 08) for as long as it remains registered as a non-profit company under the Companies Act; and |
| (d) | the Home Loan Guarantee Company NPC (registration number 1990/001845/ 08) for as long as it remains registered as a non-profit company under the Companies Act. |
| (2) | Any state-owned company licensed to conduct insurance business under the Long-term Insurance Act, 1998, or the Short-term Insurance Act, 1998, at the commencement date of this Act is exempt from section 22(1)(e). |