Act No. XXVI of 2018 - Various Financial Services Laws (Amendment) Act
Thirteenth Legislature (2017 - 2022)
| Download the Document | |
| Published on | 10 July 2018 |
Bill No. 38 - Various Financial Services Laws (Amendment) Bill
| Debated in | 1st Reading | 2nd Reading | Committee | Recommittal | 3rd Reading |
|---|---|---|---|---|---|
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Sitting No. 097
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09 Apr 2018
Plenary Session |
⦿ | ||||
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Sitting No. 135
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25 Jun 2018
Plenary Session |
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Sitting No. 007
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28 Jun 2018
Adjunct Committee for the Consideration of Bills |
⦿ | ||||
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Sitting No. 137
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04 Jul 2018
Plenary Session |
⦿ |
Objects and Reasons
The object of this Bill is to transpose the provisions of Directive (EU) 2016/97 of the European Parliament and of the Council of 20 January 2016 on insurance distribution (recast), (the "Insurance Distribution Directive"), by amending the Insurance Intermediaries Act (Cap. 487), and also to provide for matters incidental and ancillary thereto. The consequential amendments to the Insurance Business Act (Cap. 403) are proposed so as to align the said Act with the terminology and amendments to the Insurance Intermediaries Act, as well as to ensure consistency in the legislation.