Long Term Insurance Act, 1998 (Act No. 52 of 1998)RegulationsRegulations under the Long-term Insurance Act, 1998Part 1 : Interpretation1.1 Definitions |
In these regulations "the Act" means the Long-term Insurance Act, 1998, and any word or expression to which a meaning has been assigned in the Act shall have the meaning so assigned to it, and unless a different meaning is assigned elsewhere in these regulations—
[Preamble to definitions substituted by regulation 2(a) of Notice No. 1437 of 2017]
means the Companies Act, 2008 (Act No. 71 of 2008);
[Definition inserted by regulation 2(b) of Notice No. 1437 of 2017]
in respect of a—
| (a) | registered insurer, has the meaning assigned in section 1 of the Act; and |
| (b) | licensed insurer, has the meaning assigned in section 1 of the Insurance Act; |
[Definition inserted by regulation 3(a) of Notice No. 1015, GG 41942, dated 28 September 2018]
[Definition deleted by regulation 3(b) of Notice No. 1015, GG 41942, dated 28 September 2018]
in respect of a—
| (a) | registered insurer, has the meaning assigned to it in section 1 of the Act; and |
| (b) | licensed insurer, has the meaning assigned to it in Schedule 2 of the Insurance Act; |
[Definition inserted by regulation 3(c) of Notice No. 1015, GG 41942, dated 28 September 2018]
in respect of a—
| (a) | registered insurer, has the meaning assigned to it in section 1 of the Act; and |
| (b) | licensed insurer, means a policy underwritten under the fund risk or fund investment class of life insurance business as set out in Table 1 of Schedule 2 of the Insurance Act; |
[Definition inserted by regulation 3(d) of Notice No. 1015, GG 41942, dated 28 September 2018]
in respect of a—
| (a) | registered insurer, has the meaning assigned to it in section 1 of the Act; and |
| (b) | licensed insurer, has the meaning assigned to it in section 1 of the Insurance Act; |
[Definition inserted by regulation 3(e) of Notice No. 1015, GG 41942, dated 28 September 2018]
means the Insurance Act, 2017 (Act No. 18 of 2017);
[Definition inserted by regulation 3(f) of Notice No. 1015, GG 41942, dated 28 September 2018]
means a long-term insurer;
[Definition inserted by regulation 2(d) of Notice No. 1437 of 2017]
includes—
| (a) | a company, close corporation or co-operative incorporated or registered in terms of legislation whether in the Republic elsewhere; |
| (b) | an association, partnership, club or other body of persons of whatever description, corporate or unincorporated; or |
| (c) | a trust or trust fund; |
[Definition inserted by regulation 2(e) of Notice No. 1437 of 2017]
means the applicable Part of these regulations;
means a long-term policy;
[Definition inserted by regulation 2(f) of Notice No. 1437 of 2017]
means the Policyholder Protection Rules made under section 62 of the Act;
[Definition inserted by regulation 3(h) of Notice No. 1015, GG 41942, dated 28 September 2018]
[Definition deleted by regulation 2(g) of Notice No. 1437 of 2017]
[Definition deleted by regulation 3(i) of Notice No. 1015, GG 41942, dated 28 September 2018]
means the applicable section of the Act.