Section 12: Conditions of licence

12. Conditions of licence (1) The Commission may, on issuing a licence under this Part, impose such conditions, restrictions and limitations as it deems fit. [Issue 1] I15 – 16 Revised Laws of Mauritius (2) Subject to Part XIII, the Commission may, by notice in writing to the insurer, add, delete, vary or determine any condition, restriction and limitation in the licence and the licence shall be deemed to have been issued with such addition, deletion, variation or determination. (3) Where an insurer fails to comply with a condition, restriction and limitation imposed under subsection (1), it shall commit an offence and shall, on conviction, be liable to a fine not exceeding 2 million rupees and to imprisonment for a term not exceeding 8 years.