Insurance Act, 2017 (Act No. 18 of 2017)

Chapter 7 : Reporting and Public Disclosures

Purchase

(1)

An insurer (other than branch of a foreign reinsurer, Lloyd’s underwriters or Lloyd’s) and a controlling company must, when required to do so by the Prudential Authority, provide the Prudential Authority with any information the Prudential Authority may require in the form, manner and containing the particulars which the Prudential Authority determines, in respect of—

(a)	the names of its shareholders, other holders of a beneficial interest, and the size of their shareholding and other beneficial interests, as the case may be; and

(b)	the name of any person who, directly or indirectly, has the power to require the shareholders referred to in paragraph (a) to exercise their rights as shareholders in the insurer or controlling company in accordance with such person’s directions or instructions.

(2)	A person, or any person acting on behalf of that person, must, at the request of an insurer or a controlling company, provide the insurer or controlling company with the information it may require for the purposes of complying with subsection (1), if—

(a)	shares in an insurer or an insurance group are registered in that person’s name;

(b)	that person wishes to have shares in an insurer or a controlling company allotted, issued or registered in that person’s name.