Short-Term Insurance Act, 1998 (Act No. 53 of 1998)RegulationsRegulations under the Short-term Insurance Act, 1998 (Act No. 53 of 1998)Part 1 : Interpretation1.1 Definitions |
In these regulations "the Act" means the Short-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 regulation—
[Preamble substituted by regulation 2(a) of Notice No. 1439, GG 41334, dated 15 December 2017]
means the Companies Act, 2008 (Act No. 71 of 2008);
[Definition inserted by regulation 2(b) of Notice No. 1439, GG 41334, dated 15 December 2017]
means the date referred to in regulation 8.2;
[Definition inserted by regulation 2(c) of Notice No. 1439, GG 41334, dated 15 December 2017]
means a person, other than a representative, who renders services as intermediary and includes a Lloyd's correspondent;
[Definition inserted by regulation 2(d) of Notice No. 1439, GG 41334, dated 15 December 2017]
means a short-term insurer;
[Definition inserted by regulation 2(e) of Notice No. 1439, GG 41334, dated 15 December 2017]
means a long-term policy as defined in the Long-term Insurance Act, 1998;
means the applicable Part of these regulations;
means a short-term policy;
[Definition inserted by regulation 2(f) of Notice No. 1439, GG 41334, dated 15 December 2017]
means the Policyholder Protection Rules made under section 55 of the Act;
[Definition inserted by regulation 2(g) of Notice No. 1439, GG 41334, dated 15 December 2017]
means a natural person employed—
| (a) | by or working for a shoert-term insurer and receiving or entitled to receive remuneration; and |
| (b) | for the purpose of rendering services as intermediary in relation to the short-term policies entered into or to be entered into by the short-term insurer only; |
[Definition inserted by regulation 2(h) of Notice No. 1439, GG 41334, dated 15 December 2017]
[Definition deleted by regulation 2(j) of Notice No. 1439, GG 41334, dated 15 December 2017]
means the applicable Schedule to the Act;
means the applicable section of the Act.
means any act performed by a person—
| (a) | the result of which is that another person will or does or offers to enter into, vary or renew a short-term policy; or |
| (b) | with a view to— |
| (i) | maintaining, servicing or otherwise dealing with; |
| (ii) | collecting or accounting for premium payable under; or |
| (iii) | receiving, submitting or processing claims under, |
a short-term policy;
[Definition inserted by regulation 2(i) of Notice No. 1439, GG 41334, dated 15 December 2017]