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Insurance (Budget Amendment) Act 2022

REPUBLIC OF FIJI

Insurance (Budget Amendment) Act 2022

ACT NO. 36 OF 2022

I assent.

K. KUMAR
Chief Justice

[29 July 2022]

AN ACT

TO AMEND THE INSURANCE ACT 1998

ENACTED by the Parliament of the Republic of Fiji—

Short title and commencement

1.—(1) This Act may be cited as the Insurance (Budget Amendment) Act 2022.

(2) This Act comes into force on 1 August 2022.

Section 42 amended

2. Section 42 of the Insurance Act 1998 is amended after subsection (1) by inserting the following new subsection—

“(1A)A licence issued to a person under this section to carry on a business as an agent for an insurer, may be issued for a term not exceeding 5 years.”.

Passed by the Parliament of the Republic of Fiji this 29th day of July 2022.