| 9.1 |
These regulations are called the Regulations under the Long-term Insurance Act, 1998. |
| 9.2 |
The amendments to the Regulations, subject to regulations 9.3 and 9.4, take effect on 1 July 2018. |
| 9.3 |
Despite regulation 9.2, the— |
| (a) |
insertion of paragraph (q) in subregulation (1) in regulation 6.3 of Part 6 takes effect— |
| (i) |
on the date referred to in regulation 9.2 for binder agreements entered into on or after the effective date; |
| (ii) |
on 1 January 2019 for binder agreements entered into before the date referred to in regulation 9.2; and |
| (b) |
insertion of regulations 8.1(2), (3), (4) (6) and (7), 8.2 and 8.3 in Part 8 takes effect 12 months after the date referred to in regulation 9.2. |
| 9.4 |
Despite regulation 9.2 the following amendments made to the Regulations through Government Notice 1437 as published in Government Gazette 41334 on 15 December 2017 take effect as follows— |
| (a) |
repeal of the definition of "administrative work" in regulation 3.1 in Part 3A takes effect 12 months after the effective date; |
| (b) |
insertion in Part 3A of regulation 3.9A takes effect 6 months after the effective date; |
| (c) |
the amendment of item 5.2.2.1 and repeal of items 5.2.2.1.1 and 5.2.2.1.2 in the Table in Annexure 1 in Part 3A takes effect 12 months after the effective date; |
| (d) |
insertion of subregulations (2) and (3) in regulation 3.21 in Part 3C takes effect— |
| (i) |
on the effective date for binder agreements entered into on or after the effective date; |
| (ii) |
for binder agreements entered into after 1 January 2017 but before the effective date, the earliest of— |
| (aa) |
6 months after the effective date; or |
| (bb) |
the date on which any amendment to binder fees payable under such binder agreement is made; |
| (iii) |
for binder agreements entered into before 1 January 2017, the earliest of— |
| (aa) |
12 months after the effective date; or |
| (bb) |
the date on which any amendment to binder fees payable under such binder agreement is made; |
| (e) |
insertion of subregulation (2) in regulation 6.2A in Part 6 takes effect 24 months after the effective date; and |
| (f) |
amendment to paragraph (p) in subregulation (1) in regulation 6.3 in Part 6 takes effect 24 months after the effective date. |
| 9.5 |
For purposes of regulation 9.4 "effective date" means 1 January 2018. |
[Part 9 inserted by regulation (10) of Notice No. 1015, GG 41942, dated 28 September 2018]
Protection of Businesses Act, 1978
