Section 68: Possession of Property Prohibited

1) Except for the benefits or privileges granted to the director, chief executive officer, shareholder, employee or insurance intermediary of the company in accordance with the prevailing law, the property of the insurer shall not be used in any way by the director of the insurer, the director’s immediate family, a fundamental shareholder, a person with a financial interest, any firm, company or organisation in which the insurer or its director is a managing agent or a partner, or the chief executive officer.

2) Insurance company shall not take in rent or use in any other way the assets of director, director’s family members, substantial shareholders, chief executive officer, any firm, company or corporate body in which the insurer or its director is managing agent or partner.