NATIONAL INSURANCE COMMISSION ACT

Section 45: Duty to notify insurance institution or person to be affected.

1997Section 45 of 66Federal Republic of Nigeria

(1) No order under section 42 or 43 of this Act shall be made unless-
(a) the insurance institution in respect of which the order is to be made; and
(b)
in the case of an order under paragraph (c) or (d) of subsection (2) of section 41 of this Act, the director, manager or officer who is to be removed from office,
has been given a reasonable opportunity of making representations against or otherwise in respect of the proposed order,
(2) The Commission shall not make an order under subsection (1) of this section if in its opinion any delay would be detrimental to the interest of the insurance institution, policy holders, creditors or the public generally.
(3) An order made in consequence of a representation may either be confirmed, modified, altered, varied or replaced by the Minister.

Cite this section

Section 45, NATIONAL INSURANCE COMMISSION ACT (1997).

https://repo.podus.ai/laws/national-insurance-commission-act/section/45/