Short-Term Insurance Act, 1998 (Act No. 53 of 1998)Part II : Registration of short-term insurers8. Prohibition on performance of certain acts, by certain persons |
[Section 8 heading substituted by item 7(a) of schedule 1 of Act No. 18 of 2017, GG 41388, dated 18 January 2018]
| (1) | [Section 8(1) deleted by item 4 of schedule 1 of Act No. 18 of 2017, GG 41388, dated 18 January 2018] |
| (2) | Subject to this Act, no person shall render services as intermediary in relation to a short-term policy unless— |
| (a) | short-term insurers, excluding Lloyd's and Lloyd's underwriters, are the only underwriters in terms of the short-term policy concerned; |
[Section 8(2)(a) substituted by item 7(b) of schedule 1 of Act No. 18 of 2017, GG 41388, dated 18 January 2018]
| (b) | such person or another person has entered into a written agreement as referred to in section 48A(1) with Lloyd’s underwriters for the performance of the function referred to in section 48A(1)(a) in relation to the short-term policy concerned, and Lloyd’s underwriters are the only underwriters in terms of the short-term policy concerned; |
[Section 8(2)(b) substituted by item 7(c) of schedule 1 of Act No. 18 of 2017, GG 41388, dated 18 January 2018]
| (c) | [Section 8(2)(c) deleted by item 7(d) of schedule 1 of Act No. 18 of 2017, GG 41388, dated 18 January 2018] |
| (d) | such person does so with the approval of the Authority. |
| (3) | The Authority may from time to time by notice on the official web site or, in the case of any particular person, by notice to such person, subject to such conditions as the Authority determines— |
[Words preceding section 8(3) substituted by section 114(c) of Act No. 45 of 2013]
| (a) | and specifies in the notice, grant to persons, generally or to any particular person or category of persons the approval contemplated in subsection (2)(d) to such extent as may be specified by the Authority in the notice; and |
| (b) | at any time withdraw or amend any such approval to such extent as may be determined by the Authority. |
| (4) | Subsections (2) and (3) shall not apply in the case of a short-term reinsurance policy unless and to the extent that the Authority so determines by notice in the Gazette. |
[Section 8(4) substituted by item 7(e) of schedule 1 of Act No. 18 of 2017, GG 41388, dated 18 January 2018]
| (5) | [Section 8(5) deleted by section 114(d) of Act No. 45 of 2013, with effect from 1 January 2018] |
| (6) | No short-term insurer which is liable under a short-term insurance policy may refer to or use in any such policy or advertisement, brochure or similar communication the term ‘funeral’ or ‘burial’ or any derivative thereof. |
[Section 8(6) substituted by section 27 of Act No. 17 of 2003]