W 120/06 COB — AIG MEMSA General Insurance Company Ltd
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MODIFICATION NOTICE
| To | AIG MEMSA General Insurance Company Ltd |
| Address | Level 11, The Gate Building, PO Box 117719, Dubai International Financial Centre, Dubai, UAE |
| DFSA Firm Reference No. | F000016 |
| Notice No. | W120/2006 |
THE DFSA HEREBY GIVES NOTICE THAT:
The Rule specified in the table herein does not apply to the above mentioned Person in the form appearing in the Rulebook but instead applies to that Person in the modified form prescribed in that table below.
This notice is issued by the DFSA under Article 25 of the Regulatory Law 2004.
Effective date: This notice comes into effect on 28th May and remains in effect until further notice or on the date on which any rule specified herein is amended, whichever is the earlier.
RULE MODIFIED
The Rule listed in the left hand column of the table below is modified as shown in the right hand column of the table. In this table, underlining indicates new text and striking through indicates deleted text.
The version of the Rule to which this notice relates is COB/VER4/01-06.
| Rule | Modified Text |
| COB 2.2.2 (2) | An Insurer which is a DIFC incorporated Insurer must ensure that it does not Effect a Contract of Insurance or Carry Out a Contract of Insurance with a natural person, in or from the DIFC |
CONDITIONS
The modification in respect of the Rule specified above remain in effect on condition that prior to establishing a branch in another jurisdiction, the firm must seek and obtain the prior approval of the DFSA.
INTERPRETATION
The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.
Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.
This notice was issued by:
| Name : | David Knott |
| Position : | Chief Executive |
| Date : | 28th May 2006 |