Application for licence

(1) An application by an association of underwriters for licensing under this Part shall be made to the Supervisor in the prescribed form and shall be accompanied by evidence of the payment of the prescribed fee and by the following documents (a) a copy of its statute or deed of association; (b) the names and addresses of persons in Belize who as brokers or agents place insurance business with the association; and (c) in the case of an association constituted outside Belize– (i) a certificate signed by the appropriate public authority in the country in which it is constituted stating that the association has been established for at least five years, that the legislation of such country provides for the regulation of associations of underwriters and that it is operating in accordance with that legislation; and (ii) the names and addresses of one or more persons resident in Belize who are authorised to accept, on behalf of the members of the association, service of process in any legal proceedings; and by such as the Supervisor may require. (2) Every unlicensed or unregistered association of under writers carrying on insurance business in Belize immediately before the commencement of this Act shall, within three months of that date, and in accordance with sub-section (1), apply for licensing to the Supervisor who shall, if satisfied that the application is in accordance with this Act, license the association within three months after the receipt of the