Document from CIS Legislation database © 2003-2019 SojuzPravoInform LLC

PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of August 25, 2006 No. 530

About insurance activity

(The last edition from 11-05-2019)

For the purpose of enhancement of state regulation of insurance activity:

1. Determine that:

1.1. legal entities of the Republic of Belarus, and also the foreign legal entities, performing activities in the territory of the Republic of Belarus, citizens of the Republic of Belarus and who are constantly living in the Republic of Belarus persons without citizenship insure the valuable interests in the Republic of Belarus only at the commercial organizations created for implementation of insurance activity and having special permissions (licenses) for implementation of insurance activity in the Republic of Belarus if other is not established by the President of the Republic of Belarus.

The Republic of Belarus and its administrative and territorial units, state bodies, the state legal entities, and also economic societies concerning which the Republic of Belarus or administrative and territorial unit, having shares (shares) in authorized funds, can determine the decisions made by these societies perform insurance of the valuable interests on the types of insurance which are not relating to life insurance in the Republic of Belarus only at the state insurance companies * if other is not established by the President of the Republic of Belarus.

______________________________

* In this Item the state insurance companies are understood as insurance companies - the state legal entities or legal entities in whose authorized funds more than 50 percent of shares (common (ordinary) or other voting shares) are in property of the Republic of Belarus and (or) its administrative and territorial units and (or) in property of legal entities in whose authorized funds more than 50 percent of shares (shares) are in property of the Republic of Belarus and (or) its administrative and territorial units.

The insurance specified in part two of this Item is performed without participation of insurance agents, except for the insurance agents which are on the staff of the state insurance company, and participation of insurance broker is possible only based on the order of the insurer and receipt of remuneration from the insurer.

The Republic of Belarus and its administrative and territorial units, state bodies, the state legal entities, and also economic societies concerning which the Republic of Belarus or administrative and territorial unit, having shares (shares) in authorized funds, can determine the decisions made by these societies perform insurance of valuable interests on the types of insurance relating to life insurance in the Republic of Belarus only at insurance companies - the state legal entities.

The foreign citizens who are in the Republic of Belarus, the stateless persons which are temporarily staying or temporary living in the territory of the Republic of Belarus, have the right to insure the valuable interests in the Republic of Belarus at the Belarusian commercial organizations created for implementation of insurance activity and having special permissions (licenses) for implementation of insurance activity if the insurance obligation at the called organizations is not provided according to this Decree.

Activities in the territory of the Republic of Belarus of the insurance companies created outside the Republic of Belarus without state registration in the Ministry of Finance and receipts of special permission (license) for implementation of insurance activity are illegal and are not allowed if other is not established by the President of the Republic of Belarus.

Activities in the territory of the Republic of Belarus of the insurance brokers created outside the Republic of Belarus without state registration in the Ministry of Finance are illegal and are not allowed if other is not established by the President of the Republic of Belarus.

Full text available with active License only!

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

Effectively work with search system

Database include more 38000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SojuzPravoInform LLC. UI/UX design by Intelliants.