Voluntary Health Insurance (Amendment) Act 2008
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Board may form and establish or acquire subsidiary for purposes of transferring business of health insurance schemes and health-related insurance schemes to such subsidiary. |
10.— (1) Without prejudice to the generality of section 8 , the Board may form and establish or acquire one and only one subsidiary (“relevant subsidiary”) for the purposes of transferring to the subsidiary on the transfer day the business of health insurance schemes and health-related insurance schemes carried out by the Board pursuant to section 2 of the Act of 1996. | |
(2) A transfer of the business referred to in subsection (1) effected under this Act shall be valid against policyholders, the insured persons and any other person having rights and obligations arising out of the policies assigned. | ||
(3) Section 8 (3) shall apply to the relevant subsidiary as that section applies to a subsidiary referred to in section 8 (1). |