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11. Extension of the application of section 5 to the existing insurers

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

The provisions of section 5 of this Act shall apply to any local subsidiary insurance company of any foreign holding company which holds a valid licence issued on or before February 7, 2011 under section 15 of the principal enactment after having fulfilled where so required the segregation requirements specified in section 53

of Regulation of Insurance Industry (Amendment) Act,

No. 3 of 2011.