Section 31: Documents to be deposited with the Commission after amalgamation or transfer.
Within 3 months after the date of completion of the amalgamation, transfer or acquisition of insurance business under section 30 of this Act, the insurer carrying on the amalgamated business or to whom the business is transferred or by whom the business is acquired as the case may be, shall furnish in duplicate to the Commission-(a) certified copy of the agreement or deed under which the amalgamation, transfer or acquisition had been effected;
(b) certified copy of the agreement or deed under which the amalgamation, transfer or acquisition had been effected;
(c) certified copy of the actuarial or other reports upon which the agreement or deed was founded; and
(d) a declaration signed by each of the insurers concerned-
(i) that to the best of their knowledge and belief, every payment made or to be made to any person on account of the amalgamation or transfer is therein fully set forth, and
(ii) that no other payments beyond these set forth have been made either in money, policies, securities or other valuable consideration by or with the knowledge of any of the parties to the amalgamation or transfer.
Cite this section
Section 31, INSURANCE ACT (2003).
https://repo.podus.ai/laws/insurance-act/section/31/