COCONUT INSURANCE ACT

ARRANGEMENT OF SECTIONS

   1   Short title

   2   Interpretation

   3   Regulation making power

   4   Loans

<IN:LF:0,RT:1.64514,FI:0>

THE COCONUT INSURANCE ACT

[Date of Commencement: 1st July, 1949]

<IN:LF:0,RT:1.64514,FI:0>Cap 63.

<IN:LF:0,RT:1.64514,FI:0>Act 31 of 1987.

1   Short title

   This Act may be cited as the Coconut Insurance Act.

2   Interpretation

<IN:LF:0,RT:1.64514,FI:0>   In this Act-

   "the Board" means the Coconut Industry Board constituted under the Coconut Industry Control Act.

3   Regulation making power

<IN:LF:0,RT:1.64514,FI:0>   (1) The Minister may make regulations-

   (a)   for the institution, financing and operation by the Board of one or more schemes for the automatic insurance and the contractual insurance of coconut trees by coconut growers against such risks as may be specified in such regulations;

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   (b)   prescribing the categories of persons who, subject to such conditions as may be prescribed, shall be entitled to benefit in respect of automatic insurance under this Act;

   (c)   prescribing the time at which, period for which and terms and conditions upon which any contractual insurance under these regulations shall be affected and the terms and conditions upon which benefit in respect of automatic insurance and contractual insurance shall be payable, so, however, that different times, periods, terms or conditions may be prescribed in respect of different categories of persons or in respect of insurance against different risks;

   (d)   providing for the establishment by the Board of one or more Coconut Insurance Funds;

   (e)   providing for the effecting and the carrying by the Board of re-insurance;

<IN:LF:0.699306,RT:0,FI:-0.0118056>providing for the imposition, raising, levying and collecting by the Board of a cess upon coconuts or copra exported or sold for export or manufactured or sold for the purpose of being manufactured into any coconut product, or upon any prescribed category of coconuts or copra so exported, sold for export, manufactured or sold for the purpose of being manufactured;

   (g)   prescribing all things required or permitted to be prescribed under this section;

   (h)   providing for all matters (whether similar to the foregoing or not) for which it may be necessary or expedient to provide for the purpose of securing the better carrying out of this Act.

   (2) Regulations under this section may be made with retrospective effect.

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