Short-Term Insurance Act, 1998 (Act No. 53 of 1998)

Part IV : Returns to Authority

35. Returns to Authority

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(1)A short-term insurer shall furnish the Authority with returns relating to its business—
(a)in the medium and form;
(b)containing the information; and
(c)by the date or within the period,

determined by the Authority, by notice on the official website, either generally or in relation to a particular insurer.

[Section 35(1) substituted by item 9 of schedule 1 of  Act No. 18 of 2017, GG 41388, dated 18 January 2018]

 

(2)If the Authority is satisfied that a return furnished to it in terms of subsection (1) is incomplete or incorrect, it may, by notice—

[Words preceding section 35(2)(a) substituted by item 9(b) of schedule 1 of Act No. 18 of 2017, GG 41388, dated 18 January 2018]

(a)direct the short-term insurer to furnish the Authority, within a specified period, with specified information or documents which the Authority considers necessary to complete or correct the return; or
(b)reject the return and require the short-term insurer to furnish the Authority, within a specified period, with a new return which is complete and correct.

 

(3)If the Authority is satisfied that a statement forming part of the returns furnished by the short-term insurer in terms of subsection (1) or (2) requires further investigation, the Authority may by notice direct the short-term insurer to furnish him or her by a specific date or within a specific period with a report—
(a)in the medium and form; and
(b)containing the required information, compiled by a person nominated by the Authority at the cost of the short-term insurer.

[Section 35(3) inserted by section 44 of Act No. 27 of 2008]