Section 26: (1) The Commission shall not issue a licence after the commencement of this Act that authorises the insurer to operate a composite insurance business.(2) A company licensed to operate(a) Life Assurance business as a speciality shall not be licensed subsequently to operate a Non-life Insurance business, and(b) Non-life insurance business as a speciality shall not be licensed subsequently to operate Life Assurance business.(3) Despite subsection (2), a company(a) licensed to operate a Life Assurance business may acquire substantial shareholding in a Non-life Insurance company, and(b) licensed to operate a Non-life Insurance may acquire substantial shareholding in a Life Assurance company.