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Applications for assurance licences.
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11.—(1) Any assurance company or any syndicate may apply to the Minister for an assurance licence authorising it to carry on a specified assurance business.
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(2) Every application under this section for an assurance licence shall be in the prescribed form and be made in the prescribed manner, and shall state the class or classes of assurance business which the assurance company or syndicate (as the case may be) making such application proposes to carry on, together with such other particulars as may be prescribed.
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(3) Every assurance company or syndicate which applies under this section for an assurance licence shall, when required by the Minister so to do, furnish to the Minister all such information as the Minister may require for the consideration of such application.
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(4) The Minister may require any statement of fact made in an application for an assurance licence or made to the Minister in response to a request for information under the next preceding sub-section of this section to be verified by the statutory declaration of some person having personal knowledge of the facts so stated.
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(5) If any person, in an application for an assurance licence or in furnishing any information in pursuance of a requisition of the Minister under this section, makes any statement which is false or misleading in any material respect, such person shall be guilty of an offence under this section and shall be liable on summary conviction thereof, in the case of a first such offence, to a fine not exceeding one hundred pounds and, in the case of a second or any subsequent such offence, to a fine not exceeding five hundred pounds.
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(6) If any assurance company or any syndicate fails to furnish any information or any verification which such company or syndicate (as the case may be) is required by the Minister under this section to furnish, the Minister may, on the ground of such failure and without prejudice to any other power of refusal conferred on him by this Act, refuse the application in relation to which such information or verification was so required.
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(7) On every application under this section for an assurance licence there shall be paid such fee as the Minister, with the consent of the Minister for Finance, shall prescribe and the due payment of such fee shall be a condition precedent to the entertainment of the application by the Minister.
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(8) All fees payable under this section shall be paid into or disposed of for the benefit of the Exchequer in such manner as the Minister for Finance shall direct.
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(9) The Public Offices Fees Act, 1879, shall not apply in respect of any fees payable under this section.
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