S.L. 123.55 Art. 43Insurance for business purposes.

For the purposes of rule 39(2)(g) "insurance for business purposes" means:

(a) indemnity cover against any liability for which an officer of a company may be personally liable in terms of any law by reason of his office; or

(b) insurance over the life of an individual or over property belonging to him where such insurance is required in connection with the provision of security for a loan or other liability directly related to the business of the employer of that individual or of the company or partnership of which he is an officer.