Book traversal links for Article (21) Attachments to a Registration Application of a Company Established in the State
Article (21) Attachments to a Registration Application of a Company Established in the State
IA-BOD-RES 2/2009 Effective from 31/1/2010The registration application shall be accompanied by the documents verifying accuracy of the details included therein including the following:
- A true copy of company's memorandum and articles of association attested by the pertinent authorities.
- A true copy of the notice declaring establishment of the company.
- A certified document to confirm that the company's capital equals no less than the minimum amount stated in the Resolution issued by the Cabinet of Ministers for the purpose.
- A certificate from a bank operating in the State establishing deposit of the amount provided for in Article (42) of the Law according to the form prescribed by the Authority.
- A statement of the insurance classes and types required to be carried out by the company in the State coupled with a statement of the general terms and conditions of the insurance operations of these classes and types.
- A statement of the benefits, limitations, and terms incorporated in the insurance policy to be issued by the company.
- A statement of the technical principles of the insurance operations of the two classes of insurance; insurance of persons and funds accumulation operation, the company requiring to carry out coupled with details of the principles of pricing these operations and a certificate by an actuary that the principles, benefits, and limitations of the insurance operations of these classes are accurate and apt be implemented.
- A statement of surrender values or reductions (for insurance of persons and funds accumulation operations).
- A specimen of each type of the insurance contracts to be issued by the company.
- A list approved by the company's chairman showing names of the members of the board of directors, their nationalities and addresses.
- A certified document showing names of the company's managers and senior officers, their nationalities, addresses and spheres and limits of their powers and a communication that they are authorized to manage the company and sign insurance contracts.
- An official certificate establishing that none of the company's managers ever been convicted for a breach of honor or trust and a written declaration by each manager that he never at any time declared bankrupt.
- Information on the company's general manager, the authorized manager or the senior officers and a proof establishing that they acquired the necessary qualifications and experiences or any other documents deemed fit by the Board.
- Any other documents determined by the Authority.