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srilawsby aturio
As enacted
Contents

Part II · Registration of Insurers

22. Reservation of deposits

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

The deposit made by an insurer shall be deemed to be part of the assets of the insurer, but shall not —

(a)

be capable of being transferred or assigned or of being encumbered with any mortgage or other charge by the insurer or be liable to seizure in execution of any decree ; or

(b)

be available for the discharge of any liability of the insurer, except for the discharge in the event of the winding up of the insurer, of liabilities arising out of policies of insurance business issued by the insurer and remaining undischarged.

Read on from s 23

Part III

General Provisions Applicable to Insurers

Read on from Part III

Part IV

Long Term Insurance Business

Read on from Part IV

Part V

Accounts, Inspection and Investigation

Read on from Part V

Part VI

Publicity

Read on from Part VI

Part VII

Management by Administration and Winding Up

Read on from Part VII

Part VIII

Registration of Brokers and Insurance Agents

Read on from Part VIII

Part IX

Offences

Read on from Part IX

Part X

General

Read on from Part X

Schedules