The purpose of the Insurance Bill, 2016 is to provide a new regulatory framework for the insurance industry and to continue to provide for the regulation of privately administered pension fund plans and to repeal the existing Insurance Act, Chap. 84:01. The Bill as introduced requires a special (three-fifths) majority in order to be passed.
View the Bill Essentials here.
This Bill was brought forward from the Second Session of the 11th Parliament after the work of the Joint Select Committee considering the matter was saved.