PART III OBJECTS AND POWERS, DUTIES AND FUNCTIONS OF CORPORATION 20. Objects of Corporation 21. Powers of Corporation 22. Duties and functions of Corporation PART IV FINANCIAL PROVISIONS RELATING TO CORPORATION 23. Authorized share capital and allotment and issue of shares 24. Prohibition of certain transactions in respect of shares 25. and credit facilities to Corporation 26. Funds of Corporation 27. Investment of funds 28. General reserve fund and other special reserve funds 29. Staff welfare fund 30. Distribution of balance of net profits 31. Financial year of Corporation 32. Technical and financial plan of Corporation 33. Bookkeeping and accounts of Corporation 34. Appointment of auditor 35. Functions, powers and duties of auditor 36. Annual report of Corporation 37. Preservation of secrecy PART V PROVISIONS GOVERNING COMPULSORY REINSURANCE TO CORPORATION 38. Application of Part V 39. Compulsory reinsurance to Corporation of insurance business by registered insurers and reinsurers 40. Pre-emptive right of Corporation in respect of reinsurance business 41. Corporation may call for information 42. Offences and penalties 43. Commission payable by Corporation PART VI GENERAL PROVISIONS 44. Limitation of liability 45. Payment of certain duties, levies and other fees 46. Staff rules and administrative directives [The heading of this section in the text of the Act is rules and administrative directives by Board”.] “Staff 47. Regulations 48. Memorandum of association and articles of association of Corporation 49. Liquidation of Corporation 50. Short title and commencement by the Parliament of the Republic of Namibia, as follows:- BE IT ENACTED PART I INTRODUCTORY PROVISIONS
PART III OBJECTS AND POWERS, DUTIES AND FUNCTIONS OF CORPORATION 20. Objects of Corporation 21. Powers of Corporation 22. Duties and functions of Corporation PART IV FINANCIAL PROVISIONS RELATING TO CORPORATION 23. Authorized share capital and allotment and issue of shares 24. Prohibition of certain transactions in respect of shares 25. and credit facilities to Corporation 26. Funds of Corporation 27. Investment of funds 28. General reserve fund and other special reserve funds 29. Staff welfare fund 30. Distribution of balance of net profits 31. Financial year of Corporation 32. Technical and financial plan of Corporation 33. Bookkeeping and accounts of Corporation 34. Appointment of auditor 35. Functions, powers and duties of auditor 36. Annual report of Corporation 37. Preservation of secrecy PART V PROVISIONS GOVERNING COMPULSORY REINSURANCE TO CORPORATION 38. Application of Part V 39. Compulsory reinsurance to Corporation of insurance business by registered insurers and reinsurers 40. Pre-emptive right of Corporation in respect of reinsurance business 41. Corporation may call for information 42. Offences and penalties 43. Commission payable by Corporation PART VI GENERAL PROVISIONS 44. Limitation of liability 45. Payment of certain duties, levies and other fees 46. Staff rules and administrative directives [The heading of this section in the text of the Act is “Staff rules and administrative directives by Board”.] 47. Regulations 48. Memorandum of association and articles of association of Corporation 49. Liquidation of Corporation 50. Short title and commencement BE IT ENACTED by the Parliament of the Republic of Namibia, as follows:- PART I INTRODUCTORY PROVISIONS
namibia-national-reinsurance-corporation-act-0e862d2f71.docx