INSURANCE ACT 1973 - SECT 72 When security trust fund constitutes an adequate security for the class of insurance liabilities secured by the fund
INSURANCE ACT 1973 - SECT 72
When security trust fund constitutes an adequate security for the class of insurance liabilities secured by the fund(1) For the purposes of this Part, in determining the extent to which a security trust fund constitutes an adequate security for the class of insurance liabilities secured by the fund, regard must be had to:
(a) the arrangements relating to the establishment and operation of the fund; and
(b) any ancillary or incidental arrangements.
(2) Subsection (1) does not, by implication, limit the matters to which regard may be had.
(3) A reference in subsection (1) to an ancillary or
incidental arrangement includes a reference to an arrangement for the funding
of a security trust fund.