Power to suspend operation of act the minister may, by notice in the gazette, suspend or restrict the operation of this act. The formal institutions include banks, microfinance deposittaking institutions, credit institutions, insurance companies, development banks, pension funds. The feasibility study was exploratory and looked at the potential for establishing social health insurance in uganda. Insurance act 1996 uganda legal information institute. Table of contents table of cases iii tableof statutes xv prefcice. Corporate governance, firm characteristics, external. Overview of the financial sector in uganda ugandas financial system is composed of formal, semiformal and informal institutions.
This hand book titled domestic tax laws is primarily intended for internal use by officers and staff of the uganda revenue authority. Click here to download the insurance act tanzania insurance regulatory authority 2016. National insurance corporation limited, commonly referred to as national insurance corporation nic, is an insurance company in uganda. The law was enacted in 1989 and provides for compulsory insurance. A report by uganda insurance commission confirms that few people are making claims against their third party insurance. Insurance compensation for accident victims insufficient. Printed by uppc, entebbe, by order of the government. According to david tumuhaise, the technical manager at uganda insurers. The insurance act the insurance act the insurance regulatory. The application of the seal shall be as is provided in the schedule to this act. Insurance act chapter 487 revised edition 2012 2010 published by the national council for law reporting with the authority of the attorneygeneral.
Riskbased capital framework for insurers version 3. Interp retati on act 18 of 1986 2 1 in this act, unless the context otherwise requires. There is established a uganda insurance commission which shall be a body corporate with perpetual succession and a common seal and may sue or be sued in its corporate name. Professionalism, integrity, accountability, transparency and teamwork. The plan was to initially cover about 2 million employed ugandans 6% of the population, including 300 000 government workers. Commission by the insurance statute, 1996 and in consultation. An act of parliament to amend and consolidate the laws relating to insurance and to regulate the business of insurance and for connected purposes. Three months ago, uganda planned to launch a compulsory public health insurance scheme, the first in the country. The laws of zambia copyright ministry of legal affairs, government of the republic of zambia broker means a person who is not an insurance agent and who acts on.
Uganda is proposing introduction of the national health insurance scheme nhis in a phased manner with the view to obtaining additional funding for the health sector and promoting financial risk protection. The law was enacted in 1989 and provides for compulsory insurance of travellers against accidents among other functions. We are the leading resource for freely available legislation in south africa and are used daily by thousands of professionals and industry leaders. An insurance broker has a duty to pay premium collected from the insured over to the insurer. Provisions relating to the carrying on of both long term and general insurance.
In uganda, vat is imposed on the supply of goods and services taxable supplies made by a taxable person. This act shall apply to workers employed by or under the government of uganda in the. This act may be cited as the diplomatic immunities and shorttitle. In 1996, ugandas ministry of health moh commissioned the first feasibility study on health insurance, and some limited chi pilot schemes were attempted. Interpretation in this act, unless the context otherwise requires. With acts you are guaranteed the latest and most up to date resource for your legislative needs.
Holding out as an insurer, insurance broker, adjuster or financial adviser. Insurance act 1996 ulii is a member of the global free access to law movement and of the african lii community. Amended by electoral laws amendment act 1 of 2019 amended by determination of remuneration of officebearers of ind. Feb 03, 2009 three months ago, uganda planned to launch a compulsory public health insurance scheme, the first in the country. Act 553 insurance act 1996 date of royal assent sep1996 date of publication in the gazette 26sep1996 an act to provide new laws for the licensing and regulation of insurance business, insurance broking business, adjusting business and financial advisory business and for other related purposes. In exercise of the powers conferred on the uganda insurance. The outdated companies act provides basic requirements for accounting and reporting applicable to all private and public companies in uganda. Settlement between insurers and bankrupt persons of on effect. The british columbia statute is the insurance marine act, rsbc 1996 c. Players and processes behind the national health insurance. The companies act, cap 110 1961 has not been significantly amended since its. Uganda insurers association hereby informs the general public that in order to ensure the quick settlement of motor third party insurance claims of up to ugx.
Combat waste, fraud and abuse improve portability of health insurance coverage. Insurance act insurance act 1996 ch 2 communications and media law. This act may be cited as the insurance motor vehicles third party risks act. Access to information act 2005 access to information regulations 2007 official secrets act 1964 ch 302 press and journalist act 1995 the uganda communications amendment bill uganda communications act 1997 uganda communications act 1997. New uganda insurance act to overhaul industry lexology.
In uganda insurance intermediaries are regulated under the insurance act 1996, insurance brokers and agents are licensed by the insurance regulatory authority and must meet the required qualifications12. What is value added tax vat uganda revenue authority. Although great care has been taken to ensure that it reflects the correct wording and numbering of the income tax act, cap. Diplomtic ltlmwities and prn7leges the diplomatic immunities and privileges act sch, 36 of zob4. Workers compensation act 2000 ch 225 chapter 225 the workers compensation act. Requirement as to capital structure and voting rights. Insurance act tanzania insurance regulatory authority. Core values the authority shall, at all times, uphold the following values. The insurance act, 1996 arrangement of sections part i preliminary section title 1.
In uganda insurance intermediaries are regulated under the insurance act 1996, insurance brokers and agents are licensed. At present, the current law on insurance in uganda is contained in the. This lesson covers specifics of the act, key players, and the. Users of motor vehicles to be insured against thirdparty risks. Public health insurance in uganda still only a dream. This act is modelled on the english marine insurance act of 1906. The welfare reform act of 1996 was one of the most significant bipartisan pieces of legislation passed in recent generations. Unit 6 occupational health and safety legislation in india 6. Financial services, insurance, medical, dental, nursing services. The insurance sector has existed for some time but not many ugandans take insurance.
National insurance commission establishment of the national insurance commission 1. Historical development of modern law of contract 1 2. The role of governments in the insurance industry royal institute for international affairs london, u. The diplomatic immunities and privileges act sch, 36 of zob4. Service act, 1996 16 the dock workers regulation of employment inapplicability to major ports act, 1997. Electoral commission act 51 of 1996 south african government. The management and staff of goldstar insurance co ltd would like to congratulate our chairman, dr sudhir ruparelia, on being awarded a top business accolade as east african leader 2018. Acts online provides legislation, including amendments and regulations, in an intuitive, online format. Congress enacted the health insurance portability and accountability act hipaa of 1996 to. To provide for a legal framework for the prudential regulation and supervision of insurance business in the republic that is consistent with the constitution of the republic of south africa, 1996, and promotes the maintenance of a fair, safe and stable insurance market. Act, the employees state insurance act and the workmens compensation act. The formal institutions include banks, microfinance deposittaking institutions, credit institutions, insurance companies, development banks, pension funds and capital markets. Insurance act, 2017 uganda legal information institute. Provision in agreement any provision in an agreement, or a contract of service shall be void where it.
The main objective of the authority was to guarantee the effective administration, supervision, regulation, and govern the industry of insurance in uganda. This act shall apply to workers employed by or under the government of uganda in the same way and to the same extent as if the employer were a private person, but the act shall not apply to active members of the armed forces of uganda. Jan 22, 20 road users say the motor vehicle insurance act, which is also called third party risks act, is obsolete and does not adequately resonate with the current situation existing in the country. The company is a leading provider of insurance and risk management services in the country. Except where the contrary is provided, nothing in this act applies to employment outside uganda.
The insurance act, 2017 the act has recently been enacted to reform the law governing insurance in uganda. Unit 6 occupational health and safety legislation in india. Exempt insurance delegation of functions, 1991 cap 308a exempt insurance forms and fees regulations, 1983. Summary of united states insurance and reinsurance law. This act shall apply to all employment within uganda. Road users say the motor vehicle insurance act, which is also called third party risks act, is obsolete and does not adequately resonate with the current situation existing in the country.
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