S.L. 386.10 Art. 20Savings. L.N. 218 of 2004.

Every authorisation, approval or order taken or commenced under the Companies Act (Cell Companies Carrying on Business of Insurance) Regulations, 2004,* shall continue to be valid and in force, as if such authorisation, approval or order were taken or commenced under these regulations.

SCHEDULE I

(Regulation 16)

Notification to the Registrar

Reg. No. of Cell Company........................

Notice of approval for the transfer of the cellular assets of a cell company to another cell company

Name of Cell Company............................................................

Name of Cell...............................................................................

Delivered by............................................................................

To the Registrar of Companies:

I/We hereby give you notice that the draft terms of agreement have been delivered to the competent authority in terms of Insurance Rules made specifically for the purposes of the Companies Act (Cell Companies Carrying on Business of Insurance) Regulations (S.L. 386.10). It is being proposed, and approval is being sought from the competent authority, that the Cell Company transfers the cellular

*Revoked by these regulations. assets attributable to any one of its cells [include name of cell/s] to another cell company [include name of Cell Company] authorised under Article 7 of the Insurance Business Act (Cap. 403)/ enrolled as an insurance manager under the Insurance Distribution Act (Cap. 487)/ enrolled as an insurance broker under the Insurance Distribution Act (Cap. 487)*.

Signature of Director/s (a)..........................................

This form must be completed in typed form.

(a) In the case of a company having more than two directors, this declaration is to be submitted and signed by the majority of directors.

*Delete as necessary

SCHEDULE II Added by: L.N.201of2024. (Regulation 17)

Declaration of Solvency or Insolvency of a cell

Reg. No. of Cell Company........................

Name of Cell Company..............................................

Name of Cell........................................................................

Delivered by............................................................................

To the Registrar of Companies:

I/We <Name & Surname> being the director/s (a) of (b) <Name of cell company>. hereby declare in accordance with regulation 17(3) of the Companies Act (Cell Companies Carrying on Business of Insurance) Regulations (S.L. 386.10) that cell <NAME OF THE CELL> is being wound up and that I/we have made a full inquiry into the affairs of the said cell and have formed the opinion that the said cell is solvent/ insolvent*.

A statement of the cell’s assets and liabilities made up to <Day> ………....day of <Month>………… of the year <Year>…………….. is being attached as part of this declaration.

Signature.........................................................................................

<Name>

Director/s

Dated this ………………….<Day> day of ………….<Month> of the year <Year>. This form must be completed in typed form.

This declaration is to be delivered together with the notice of dissolution.

(a) In the case of a cell company having more than two directors, this declaration is to be submitted and signed by the majority of directors.

(b) State cell company name.

* Delete as necessary