Section 9: Unsuitable or undesirable investments

National Audit Act

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Consolidated text

Where the Commission considers an investment constituting the assets of the insurance company to be unsuitable or undesirable the Commission may after giving- (a) notice to the insurer stating the grounds on which it proposes to exercise its powers; and (b) the insurer or the re-insurer an opportunity of being heard, direct the insurer or the re-insurer to realise the investment within the time specified by the Commission.

Source: laws_africa.