National Insurance Trust Fund (Amendment) Act 2007

This Act may be cited as the National Insurance Trust

Fund (Amendment) Act, No. 28 of 2007.

Section 6 of the National Insurance Trust Fund Act,

No. 28 of 2006 (hereinafter referred to as the “principal enactment”) is hereby amended in subsection (1) of that section, by the insertion immediately after paragraph (d) of that subsection, of the following new paragraph :—

“(dd)

the Director-General of the Insurance Board of

Sri Lanka, established by the Regulation of

Insurance Industry Act, No. 43 of 2000;”.

Section 11 of the principal enactment is hereby amended in subsection (2) of that section, by the substitution for the words “three members”, of the words “five members.”.

Section 13 of the principal enactment is hereby amended by the insertion immediately after paragraph (d) of that section, of the following new paragraphs :—

“(dd)

shall accept reinsurance of any liability arising out of any contract or policy of insurance effected or issued by any person carrying on insurance business ;

(ddd)

may reinsure with any insurer in or outside Sri

Lanka any liability arising out of any contract or policy of insurance effected or issued by the

Board ;”.

In the event of any inconsistency between the Sinhala and Tamil texts of this Act, the Sinhala text shall prevail.