← belizelaw.ai · Insurance, Cap. 251 · PART I — Preliminary

Enforcement

Cap. 251, s. 7H · Revised Edition 2020

(1) If a shareholder, does not appeal to the Minister in accordance with section 7G or appeals and the appeal is dismissed and the shareholder fails to comply with the divestment directive, the Supervisor may, without prejudice to any other remedy available under this Act or any other law, apply summarily to the Supreme Court for such orders as may be necessary for enforcing the divestment order. (2) Without limiting the generality of sub-section (1), the order of the Court may include an order conferring on the Registrar of the Court authority to do any act or take any step necessary to secure compliance with the divestment order. (3) A person commits an offence and is liable on summary conviction, to a fine of ten thousand dollars for every day the offence continues and, to imprisonment for a term not exceeding six months, in the case of an individual, if that person– (a) contravenes section 7A(2), (3), (4) or 7B (1); or (b) fails to comply with a divestment directive. (4) The authority conferred on the Supervisor under this section shall be in addition to and shall not derogate from any other authority, power or duty conferred on the Supervisor under this Act or any other law.
Have a question about this section? Ask belizelaw.ai →