Section 8A: Conduct of business

8A. Conduct of business (1) A captive insurer shall conduct its core income generating activities in, or from within, Mauritius. (2) A captive insurer may hire the services of an insurance manager licensed by the Commission to manage its business in, or from within, Mauritius. (3) In this section – “core income generating activities” includes predicting and calculating risk, insuring and reinsuring against risk and providing related services. (d) in section 13 – (i) in the heading, by deleting the words “Category 1”; (ii) by numbering the existing provision as subsection (1); (iii) in the newly numbered subsection (1), by deleting the words “Category 1”; (iv) by adding the following new subsections – (2) The provisions of this Act shall continue to apply up to 30 June 2021 to the holder of a valid Category 1 Global Business Licence, issued on or before 16 October 2017, as if the provisions of this Act have not been amended on the commencement of this subsection. (3) The provisions of this Act shall continue to apply up to 31 December 2018 to the holder of a valid Category 1 Global Business Licence, issued after 16 October 2017, as if the provisions of this Act have not been amended on the commencement of this subsection. 256 Acts 2018