Interpretation

(1) In these Regulations, unless the context otherwise requiresCAP. 269. “the Act” means the International Insurance Act; “actuary” means a Fellow or Associate by examination, who is currently in good standing, of the Institute of Actuaries in England, or of the Faculty of Actuaries Scotland, or of the Society of Actuaries of the United States of America or Canada, or of any other international actuarial association recognised by the Supervisor; “applicant” means a person applying for registration under the Act; CAP. 269. “certificate of registration” means a certificate of registration issued under section 7 of the Act; CAP. 269. “dollar” means a unit of the currency of the United States of America and the sign “$” shall have the same meaning; “Minister” means the Minister for the time being responsible for International Financial Services; International Insurance 5 “registrant” means a person who has been registered under the Act. CAP. 269. (2) A word or phrase not defined in these Regulations but defined in the Act shall have the meaning assigned to it in the Act. CAP. 269.