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srilawsby aturio
As enacted
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Part III · General Provisions Applicable to Insurers

36. power of Board to fix rates of tariffs in respect of certain sub-class of insurance

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

(1)

The Board may from time to time, where it is of the view that policy holders are being adversely affected by any tariff limits set by insurers, fix the minimum tariff for motor, fire and employers liability, to be charged by such insurers in respect of policies of insurance to be issued by them, and also may fix the maximum tariff for motor insurance business.

(2)

No insurer shall accept as under a contract or policy of insurance effected or issued by it in respect of such sub-class of insurance as is referred to in subsection (1), an amount which is —

(a)

less than the minimum rate that may be fixed in respect of motor, fire and employers liability under subsection (1) ; or

(b)

higher than the maximum rate that may be fixed in respect of motor insurance under subsection (1).

Read on from s 37

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