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Insurance (Amendment of Brokers Minimum Paid-up Capital and Security Deposit) Instrument

Current version
Enacted—
Commenced—
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Point-in-time consolidation. This page may not reflect amendments made after that date. Confirm the current position against the latest Uganda Gazette before relying on it.

About this Act

A full descriptive summary for this Act has not been recorded yet.

Jurisdiction
Uganda
Type
Principal Legislation
Status
In force
Language
English

Full text of the Act

0 parts · 6 sections

Enhanced Annotated View adds approved, source-linked propositions, operative requirements, judicial passages, related provisions, amendment notes and authority status. Choose Original PDF to inspect the source consolidation.

Uganda

Insurance (Amendment of Brokers Minimum Paid-up Capital and Security Deposit) Instrument

2. Interpretation

In these Regulations, unless the context otherwise requires, "Act" means i the Insurance Act, Cap. 213. MARIA KIWANUKA, |

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Definition

This section supplies the definitions or statutory meaning governing “Interpretation”.

“In these Regulations, unless the context otherwise requires, "Act" means i the Insurance Act, Cap. 213. MARIA KIWANUKA, |”
Primary legislation Source quotation matched
Practical effect

Use this definition when interpreting other provisions that employ the language addressed by “Interpretation”.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

1
  1. In these Regulations, unless the context otherwise requires, "Act" means i the Insurance Act, Cap. 213. MARIA KIWANUKA, |
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions
Insurance Act
Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history

3. Amendment of minimum paid-up capital under

section 6(1) of Minister of Finance, Biomring and: Economic Develapmen| the Act. The minimum paid-up capital prescribed under section 6(1) of the Act is as follows-

(a)

incase of life insurance business, the minimum paid-up capital is three billion shillings;

(b)

in case of non life insurance business, the minimum paid-up capital is four billion shillings;

607 608 | | |

L -

i -

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Governing rule

This section states the governing statutory rule for “Amendment of minimum paid-up capital under”.

“section 6(1) of Minister of Finance, Biomring and: Economic Develapmen| the Act. The minimum paid-up capital prescribed under section 6(1) of the Act is as follows-”
Primary legislation Source quotation matched
Practical effect

Use this section as the starting statutory rule for “Amendment of minimum paid-up capital under”, together with the linked provisions and current consolidation.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

2
  1. (a) incase of life insurance business, the minimum paid-up capital is three billion shillings;
  2. (b) in case of non life insurance business, the minimum paid-up capital is four billion shillings;
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history

4. Special-provisions relating to existing companies

<

A company licensed under the Act prior to the commenceme STATUTORY INSTRUMENTS nt of these SUPPLEMENT No. 13 Regulations shall comply with regulation 3 by 1st October, 2014. 14th June, 2013 STATUTORY INSTRUMENTS SUPPLEMENT

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Mandatory duty

This section imposes mandatory requirements concerning “Special-provisions relating to existing companies”.

“<”
Primary legislation Source quotation matched
Practical effect

The provision uses mandatory language; the responsible person or institution should be able to demonstrate compliance.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

1
  1. A company licensed under the Act prior to the commenceme STATUTORY INSTRUMENTS nt of these SUPPLEMENT No. 13 Regulations shall comply with regulation 3 by 1st October, 2014. 14th June, 2013 STATUTORY INSTRUMENTS SUPPLEMENT
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions

No express internal or cross-Act reference appears in this section.

Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history

5. Revocation of the Insurance (Amendment of Brokers

to The Uganda Gazette No. 31 Volume CVI dated'14th June, 2013 Minimum Paid-up Capital, Security Deposit and Loss Adjust Printed by UPPC, Entebbe, by Order of the Government. ers Professional Indemnity Policy) Instrument, 2002, S.I. No. 60 of 2002. STATUTORY INSTRUMENTS. The Insurance (Amendment of Brokers Minimum Paid-u p Capital, Security Deposit and Loss Adjusters Professional Indemnity 2013 No. 23. Policy) Instrument, 2002, S.I. No. 60 of 2002 is revoked. The Insurance (Amendment of Brokers Minimum Paid-up Capital and Security Deposit) Instrument, 2013. (Under section 79 (3) of the Insurance Act, Cap. 213)

IN EXERCISE of the powers conferred upon the Minister by section 79 (3) of the Insurance Act, Cap. 213 and in consultation with the Insurance MARIA KIWANUKA, Regulatory Authority of Uganda, these Regulations are made this Minister of Finance, Planning and Economic Development. 26th day of April, 2013.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Statutory power

This section confers or regulates the statutory power described as “Revocation of the Insurance (Amendment of Brokers”.

“to The Uganda Gazette No. 31 Volume CVI dated'14th June, 2013 Minimum Paid-up Capital, Security Deposit and Loss Adjust Printed by UPPC, Entebbe, by Order of the Government. ers Professional Indemnity Policy) Instrument, 2002, S.I. No. 60 of 2002. STATUTORY INSTRUMENTS. The Insurance (Amendment of Brokers Minimum Paid-u p Capital, Security Deposit and Loss Adjusters Professional Indemnity 2013 No. 23. Policy) Instrument, 2002, S.I. No. 60 of 2002 is revoked. The Insurance (Amendment of Brokers Minimum Paid-up…”
Primary legislation Source quotation matched
Practical effect

The power must be exercised by the authorised decision-maker, within the conditions and purpose stated in the section.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

0

This section states a single governing proposition and does not enumerate separate elements.

Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions
Insurance Act
Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history

1. Citation

These Regulations may be.cited as the Insurance. (Amendment of ' Brokers Minimum Paid-up Capital and Security Deposit) Instrum ent, 2013.

2. Interpretation. In these Regulations, unless the context otherwise requires, "Act" means the Insurance Act, Cap. 213.

Section analysis Source-linked statutory analysis Source linked
Approved statute annotation. Statutory quotations are matched to this consolidation and judicial passages are linked to judgments. Check the primary sources alongside this analysis.
What this section does
Definition

This section supplies the definitions or statutory meaning governing “Citation”.

“These Regulations may be.cited as the Insurance. (Amendment of ' Brokers Minimum Paid-up Capital and Security Deposit) Instrum ent, 2013.”
Primary legislation Source quotation matched
Practical effect

Use this definition when interpreting other provisions that employ the language addressed by “Citation”.

Deterministic editorial synthesis — not a substitute for the statutory text Editorial synthesis approved
Elements or requirements

Operative requirements extracted from the consolidated text.

2
  1. These Regulations may be.cited as the Insurance. (Amendment of ' Brokers Minimum Paid-up Capital and Security Deposit) Instrum ent, 2013.
  2. 2. Interpretation. In these Regulations, unless the context otherwise requires, "Act" means the Insurance Act, Cap. 213.
Judicial interpretation

Express propositions in source-matched passages from judgments citing this section.

0

No judgment in the current Wakilii corpus expressly cites this section. Bare rule-number references are not assigned where the Order cannot be verified.

Related provisions
Insurance Act
Amendment notes

No section-specific amendment note or instrument-level amendment history appears in this consolidation.

Authority status: legislation is primary authority; judgment weight follows the displayed court level and the ratio caveat. Check version history

3. Minimum paid-up capital and the amount of security deposit

held in an account maintained by brokers under section 79(1) of the Act. (1) The minimum paid-up capital prescribed by section 79 (1) of the Act shall not be less than seventy five million shillings.

(2)

The amount of security deposit to be maintained by brokers as prescribed by section 79 (1) of the Act is seventeen million five hundred thousand shillings. 610

Original Laws of Uganda consolidation — public-domain legislation, consolidated by ULII / Laws.Africa (CC BY 4.0). This is a point-in-time text and may not reflect later amendments; confirm against the latest Uganda Gazette before relying on it.