31.
| (1) An insurer may. subject to such terms and conditions that may be specified by the Board in order In ensure that the interests of policy holders and the insurers are adequately safeguarded, reinsure with any other insurer in or outside Sri Lanka, any liability arising out of and contract or policy of insurance, effected or issued by the first-mentioned insurer. |
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| (2) The Board may by a notice in writing, require and insurer carrying on reinsurance to furnish such information as it may deem necessary to ascertain whether such insurer has the necessary funds to satisfy any claim that may be made on such insurer to comply with the requirements of such notice. |
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| (3) The Board may from time to time, by Notification published in the Gazette, prohibit all insurers, from reinsuring with any specified reinsure in or outside Sri Lanka, risks upon policies or contracts of insurance issued or effected in respect of insurance business transacted in Sri Lanka, where any such arrangement with that reinsure is detrimental to the national interest : |
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Sri Lanka Consolidated Acts