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

ITEM

FEES

Rand

a

Document searching by the Authority for purposes of inspection thereof, or furnishing of copies or for the search, per insurer, for documents in respect of a particular financial year, relating to the last ten preceding financial years, for the purposes of inspection thereof or furnishing of copies, in terms of section 3(4)

40

b

Furnishing of a photostatic copy of a return contemplated in section 35, excluding those returns to be submitted in terms of the Companies Act, 1973, in terms of section 3(4)

210

c

Furnishing of a return contemplated in section 35, in an electronic format, of a particular financial year, excluding those returns to be submitted in terms of the Companies Act, 1973, in terms of section 3(4) terms of section 3(4)

160

d

Furnishing of a copy of, or extract from, any document per sheet thereof in terms of section 3(4)

3

e

Certification of a document in terms of section 3(5)

190

f

Application for extension of time in terms of section 4(1)

710

g

Application for the determination that a policy shall form part of a different class of policies in terms of section 4(7)(b)

5 080

h

A copy of the Annual Report of the Authority of Short-term Insurance , in printed and electronic format, prepared in terms of section 5

90

i

Application for approval of the use of the words "insure", "assure", "underwrite" or any derivative thereof in the name or description of a business or an undertaking in terms of section 8(1)(a)

190

j

Application for approval to place insurance with underwriters other than South African short-term insurers and/or Lloyd's underwriters in terms of section 8(2)(d)

570

k

Application for registration as a short-term insurer, excluding an application which is referred to in section 67(2), in terms of section 9(1)

17 280

l

Registration as a short-term insurer, excluding the registration of an existing insurer referred to in section 67(3), in terms of section 9(2)(b)

12 320

m

Application for variation of conditions of registration, excluding those variations referred to in sections 12 and 13, in terms of section 11(1)(a)

7 790

n

Application for approval of a change in the financial year in terms of section 17(a)

830

o

Application for approval of a change of name, or a translation, shortened form or derivative thereof, of a short-term insurance in terms of section 17(b)

890

p

Application for any one approval; of an auditor in terms of any one of sections 19 and 57(5)

1 690

q

Application for exemption from appointing an audit committee in terms of section 22(4)

1 310

r

Application for any one approval in terms of section 23(a)(i), (ii), (iii), (iv), (v), (vi), (vii) or (viii)

2 980

s

Application for approval to allow a subsidiary to acquire directly or indirectly shares in a short-term insurer in terms of section 23(a)(ix)

3 220

t

Application for approval of registration of shares in the name of a person in terms of section 24(1)

1 310

u

Application for approval to acquire or hold shares or any other interest in a short-term insurer in terms of section 25

3 010

v

Application for approval of an increase of a percentage specified by regulation in terms of any one of section 30(2) and paragraph 6(3) of Schedule 3

1 850

w

Application to hold documentary evidence of title to an asset outside the Republic in terms of section 31(b)

950

x

Application for any one approval in terms of section 33(1)(a), (c), (d) and (e)

3 220

y

Application for approval of a person to hold assets on behalf of a short-term insurer in terms of section 33(1)(b)

5 630

z

Application for approval of an arrangement for the transfer of short-term insurance business in terms of' section 36(2)

3 440

aa

Application for approval of compromise, arrangement, amalgamation or transfer of business in terms of section 37

22 850

ab

Application for a declaration in connection with voluntary winding-up of a short-term insurer in terms of section 42

10 930

ac

Application for approval of any one o f the Lloyd's representative and the deputy representative in terms of section 57(2) and (3)

830

ad

Application for approval of the relevant criteria for a counterparty to a over-the-counter instrument in terms of paragraph 2(b)(i) of Schedule  1

2 610

ae

Application for approval of any other financial market in the Republic on which any other derivative instrument is traded in tens of paragraph 2(b)(iii) of Schedule 1

2 610

af

Application for approval of a body corporate which is not incorporated and registered in the Republic in terms of item 20(c) of the Table to Schedule 1

2 610

ag

Application for directive to use a percentage which is different to the prescribed percentage in calculating the amount of the provision for claims incurred but not yet reported in terms of paragraph 4 of Schedule 2

3 280

ah

Application for approval of a calculation, which is different to the prescribed calculation, in determining the amount of the unearned premium provision in terms of paragraph 5(3) of Schedule 2

3 280

ai

Application for approval to use 811 amount, which is lesser than the minimum amount, for a period not exceeding three years in calculating the amount of the contingency reserve in terms of paragraph 6(b) of Schedule 2

3 280

aj

Application for approval for the valuation of any liability i.r.o. a creditor who has waived any right to have the obligation discharged until all obligations to other creditors have been discharged in full in terms of paragraph 7(2) of Schedule 2

2 610

ak

Application for approval of a smaller additional amount in terms of any one of Regulations 2.1 (a) and 2.21a)

2 390

al

Application for the special performance by the Authority of any other act, authorised by the Act, than an act contemplated in any other subparagraph above

A fee determined by the Authority in every individual case after consultation with the applicant, being a minimum of 500 and a maximum of 25 000