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

The value of the minimum amount of the security to be provided by or on behalf of a Lloyd’s underwriter shall be deemed to have been calculated in terms of this Schedule if the requirements set out in this Schedule and the requirements prescribed by the Authority have been complied with in making the calculations.

[Schedule 3, paragraph 4, substituted by section 55(a) of Act No. 27 2008, with effect from 28 February 2010]