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Back to Revised Laws of Saint Lucia (2023)

PART 7
STATUTORY DECLARATION – TO BE COMPLETED BY SHAREHOLDERS, DIRECTORS AND SENIOR MANAGEMENT PERSONNEL

I, [..................... full name ..........................] Passport Number [..................]
of [............................. please state full address ...............................] do solemnly and sincerely declare as follows—
1.	That I am a citizen of [............................................]
2.	That I have never been convicted of an offence under the Laws of Saint Lucia or any other State. (except for minor traffic offences).
3.	That I am of good character.
4.	That I have never been the subject of any refusal in any related application for registration, licence, recognition or authorisation by any regulatory authority in any country or jurisdiction.
5.	That I have never been the subject of any suspension, cancellation or revocation of registration, licence, recognition or authorisation by any regulatory authority in any country or jurisdiction.
6.	That no judgment has been rendered against me nor any suit or proceedings are pending against me in any country or jurisdiction which has been based in whole or in part on fraud, theft, deceit, misrepresentation or similar conduct.
7.	I have never been charged, indicted or convicted in any country or jurisdiction for any offence in any criminal or civil proceedings relating to fraud or theft arising out of operating or dealing in mutual funds, collective investment schemes/funds, securities, banking or insurance business.
8.	I have never been declared bankrupt nor have I been a party to bankruptcy or insolvency proceedings.
9.	I have never been subject to proceeding relating to winding-up, dissolution, creditors' arrangement, creditors' compromise or receivership.
I make this Declaration conscientiously believing the same to be true and in accordance with the Statutory Declaration Act and that I am aware that if there is any statement in this Declaration which is false, or which I know to be false or do not believe to be true, I am liable to imprisonment.
DECLARED before me
At
This		day of	_____________
Declarant
________________
Notary Royal

FORM 2
(Regulation 4(1))
[COAT OF ARMS]
SAINT LUCIA
LICENCE
INTERNATIONAL INSURANCE BUSINESS
(International Insurance Act: sections 4 and 7)
This is to certify that ________________________________________
Name of licensee
has been granted a licence to carry on international insurance business from Saint Lucia.
The licence granted is of type CLASS “A” Subclass “1” and is subject to the following:
1.	The international insurance business shall consist of general insurance business carried on from Saint Lucia.
2.	*The licensee must be wholly owned by one or more persons and the business of the licensee must consist only of insuring the risks of those persons; or
3.	*The licensee shall be an affiliate of a group of companies and the business of the licensee must consist only of insuring the risks of any other affiliates of that group or of its own shareholders.
4.	The licensee shall not without the written approval of the Minister carry on any business other than one for which the licence has been obtained.
5.	Other conditions specified below.
	Dated this ___________ day of ______________ ,_____________.
_____________________
Minister
International Financial Services

FORM 3
(Regulation 4(2))
[COAT OF ARMS]
SAINT LUCIA
LICENCE
INTERNATIONAL INSURANCE BUSINESS
(International Insurance Act: sections 4 and 7)
This is to certify that ________________________________________
Name of licensee
has been granted a licence to carry on international insurance business from Saint Lucia.
The licence granted is of type CLASS “A” Subclass “2” and is subject to the following:
1.	The international insurance business shall consist of general insurance business carried on from Saint Lucia.
2.	The licensee shall not without the written approval of the Minister, carry on any business other than one for which the licence has been obtained.
3.	Other conditions specified below.
	Dated this ___________ day of ______________ ,_____________.
___________________
Minister
International Financial Services

FORM 4
(Regulation 4(3))
[COAT OF ARMS]
SAINT LUCIA
LICENCE
INTERNATIONAL INSURANCE BUSINESS
(International Insurance Act: Sections 4 and 7)
This is to certify that ________________________________________
Name of licensee
has been granted a licence to carry on international insurance business from Saint Lucia.
The licence granted is of type CLASS “B” and is subject to the following:
1.	The international insurance business shall consist of long term insurance business carried on from Saint Lucia.
2.	The licensee shall not without the written approval of the Minister, carry on any business other than one for which the licence has been obtained.
3.	Other conditions specified below.
	Dated this ___________ day of ______________ ,_____________.
___________________
Minister
International Financial Services

FORM 5
(Regulation 4(4))
[COAT OF ARMS]
SAINT LUCIA
LICENCE
INTERNATIONAL INSURANCE BUSINESS
(International Insurance Act: Sections 4 and 7)
This is to certify that ________________________________________
Name of licensee
has been granted a licence to carry on international insurance business from Saint Lucia.
The licence granted is of type CLASS “C” Subclass “1” and is subject to the following:
1.	The international insurance business shall consist of general and long term insurance business carried on from Saint Lucia.
2.	The licensee must be wholly owned by one or more persons and the general business of the licensee must consist only of insuring the risks of those persons. or
3.	The licensee shall be an affiliate of a group of companies and the general business of the licensee must consist only of insuring the risks of any other affiliates of that group or of its own shareholders.
4.	The licensee shall not without the written approval of the Minister, carry on any business other than one for which the licence has been obtained.
5.	Other conditions specified below.
	Dated this ___________ day of ______________ ,_____________.
___________________
Minister
International Financial Services

FORM 6
(Regulation 4(5))
[COAT OF ARMS]
SAINT LUCIA
LICENCE
INTERNATIONAL INSURANCE BUSINESS
(International Insurance Act: Sections 4 and 7)
This is to certify that ________________________________________
Name of licensee
has been granted a licence to carry on international insurance business from Saint Lucia.
The licence granted is of type CLASS “C” Subclass “2” and is subject to the following:
1.	The international insurance business shall consist of general and long term insurance business carried on from Saint Lucia.
2.	The licensee shall not without the written approval of the Minister, carry on any business other than one for which the licence has been obtained.
3.	Other conditions specified below.
	Dated this ___________ day of ______________ ,_____________.
___________________
Minister
International Financial Services

FORM 7

(Regulation 5)

ACTUARIAL OPINION TO BE INCLUDED IN THE AUDITED ACCOUNTS ON ACCOUNT OF GENERAL BUSINESS

(International Insurance Act: Section 15(3))

(To be completed in English language or with certified translation attached)

Name of the Company_______________________________________

I, _______________ am the Actuary of _________________________

I have examined the actuarial assumptions and actuarial methods used in determining future policy obligations and expenses, deferred acquisition expenses, and related actuarial items in the audited accounts of the company, as prepared by the company to accord with internationally accepted accounting standards, from the period beginning _________ to __________.

My examination included such review of the actuarial assumptions and actuarial methods and of the underlying basic records and such tests of the actuarial calculations as I considered necessary.

In my opinion, the amounts carried in the balance sheet on account of unamortised acquisition expenses and on account of other future policy obligations and expenses are based on actuarial assumptions which are appropriate to the financial statements of the company prepared in accordance with internationally accepted accounting standards and computed by sound actuarial methods consistently applied and are fairly stated.

Provisions have been made for all actuarial reserve and related items which ought prudently to be established.

Signed ............................

Date ..............................

FORM 8
(Regulation 6)
NOTICE OF CHANGE OF PARTICULARS
(International Insurance Act: Section 6)
(To be completed in Duplicate, and to be completed in English language or with certified translation attached)
Date:........................
To:		Minister for International Financial Services Financial Services Supervision Department Castries
		SAINT LUCIA
Dear Sir:
We hereby notify you that we have changed the particulars set forth in our application for licence as follows.
Approval is requested for the following changes for the reasons outlined:
1.		...........................................................................................
		...........................................................................................
		...........................................................................................
		...........................................................................................
2.		...........................................................................................
		...........................................................................................
		...........................................................................................
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3.		...........................................................................................
		...........................................................................................
		...........................................................................................
		...........................................................................................
			Yours Faithfully,
			Name: ..........................................................
			Signature: ......................................................
	APPROVED, except as maybe set forth in an attachment hereto.
__________________
Minister
International Financial Services

FORM 9
(Regulation 7)
NOTICE OF REVOCATION OF LICENCE
(International Insurances Act: Section 21)
Name of licensee: ...................................................................................
Licence Number: ....................................................................................
Address: .............................................................................................
.......................................................................................................
.......................................................................................................
The Minister of International Financial Services hereby notifies the above holder of an international insurance licence, that its licence has been revoked by the Minister as at [.. date..] under section 21 of the International Insurance Act for the following reason(s):
□	the licensee appears likely to become unable to meet its obligations as they fall due.
□	the licensee is carrying on business in a manner detrimental to the public interest, the interest of its policyholders or other creditors.
□	a condition exists that would have caused the Minister to refuse to grant the licensee a licence upon application.
□	the licensee has contravened the provisions of section ______ of the International Insurance Act.
□	the licensee has failed to comply with the following condition(s) of its licence.
The licensee may under section 21(2) of the International Insurance Act apply to the Minister within 7 days of the date of this notice for a reconsideration of his or her decision to revoke its licence.
The licensee may appeal any revocation under section 24 of the International Insurances Act by lodging an appeal to the High Court of Saint Lucia.
	Dated this ................... day of ..................... 20....
....................................
Minister
International Financial Services