Insurance Act

187. Alteration of license

Edition: 2023-12-11 · In force

187. Alteration of license

Where a licensed person—

(a)in accordance with this Act ceases to carry on business of the type in respect of which he is licensed; or

(b)being an insurer, gives notice in writing to the Commissioner that he wishes to carry on insurance business of a class not previously undertaken, the Commissioner may, subj ect in the case of additional license to compliance with the provisions relating thereto and to such terms and conditions as he considers necessary—

(i)cancel the licence, except that, in the case of an insurer, such cancellation shall be made only with the prior approval in writing of the Cabinet Secretary;

(ii)alter the relevant register;

(iii)alter the licence; or

(iv)issue a new licence,

(v)as the circumstances require.

[Act No. 12 of 1987, s. 7, Act No. 19 of 2015, s. 70, Act No. 10 of 2023, Sch.]

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Source: Kenya Law