Section 5: Application of Act

5. Application of Act (1) Nothing in this Act shall affect the status and the operation of the Sugar Insurance Fund established under the Sugar Insurance Fund Act. continued on page I15 – 11 I15 – 10 (1) [Issue 7] Revised Laws of Mauritius (1A) This Act shall not apply to captive insurance business except where regulations or rules made under the Captive Insurance Act provide otherwise. (2) The Minister may, on the recommendation of the Commission, by regulations— (a) exclude from the application of this Act or any provision of this Act— (i) the African Reinsurance Corporation specified in the African Reinsurance Corporation (Privileges and Immunities) Regulations 1978; (ii) an association of underwriters carrying on any classes of insurance business; (iii) an organisation where— (A) the provision of insurance benefits are incidental in nature and volume to its main activity; and (B) the operation of such insurance activity is of minor importance for the insurance market; or (iv) a professional reinsurer, or any other corporation to the extent of its external insurance business; (v) any other person or class of persons; (b) provide for restriction on the insurance of risks relating to assets situated in Mauritius with insurers not licensed under this Act; (c) declare certain services and activities ancillary to or connected with insurance business as not constituting insurance business for the purposes of any or all of the provisions of this Act. (3) In case of doubt as to whether an activity constitutes insurance business to which this Act applies, or whether insurance business is or is not being carried on in or from Mauritius, the matter shall be determined by the Commission which shall give public notice of its determination. [S. 5 amended by s. 20 (3) (b) of Act 32 of 2015 w.e.f. 29 January 2016.]