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Financial Supervision of the Road Accident Fund Act, 1993 (Act No. 8 of 1993)

2. Insurance Act, 1943, to apply


(1) Subject to any directions of the executive officer, the provisions of the Insurance Act, 1943 (Act No. 27 of 1943), in relation to an insurer registered in terms of that Act to carry on short-term insurance business, shall apply to the Fund.


(2) The Fund shall furnish to the executive officer such returns as may by virtue of the provisions of subsection (1) be required by the executive officer.


(3) The Fund shall obtain the opinion of an actuary as defined in section 1 of the Insurance Act, 1943, or of a registered accountant and auditor, whenever required, by virtue of the provisions of subsection (1), by the executive officer in respect of such aspects of the business of the Fund as the executive officer may determine.