Insurance Act, 2006 (Act 724)

Section 50: Where an insurer terminates the appointment of a director or a member of senior management staff, it shall, within fourteen days after the termination provide written notification to the Commission.(2) An insurer that contravenes subsection (1) is liable to pay to the Commission the percuniary penalty stated in the First Schedule.

Procedures to Follow

Not Avaiable

Responsible Institution

National Insurance Commission


Relevant Forms to Download

Not Available

Fees / Charges

Not Avaiable