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Article (12)

FED LAW 6/2007 Effective from 15/2/2007
This article has been cancelled pursuant to the Decretal Federal Law No. (24) of 2020. To see the previous version, click on the version box below
Version 1(effective from 15/02/2007 to 02/01/2021)

 

The Board shall assume the duties and authorities provided for in the law herein and the regulations, rules, directives, and decisions issued pursuant thereto including:

  1. Laying down the general policy of the Authority and approving the necessary implementation plans and programs.
     
  2. Approving draft laws relevant to insurance operations and report them to the Cabinet.
     
  3. Issuing the necessary directives to implement the provisions of the law herein, and the regulations, and rules, issued pursuant thereto.
     
  4. Approving the draft of the annual budget of the Authority and refer it to the Cabinet for sanction.
     
  5. Approving the annual report and the final accounts of the Authority and refer them to the Cabinet.
     
  6. Appointing an account auditor for the Authority and determining his remuneration.
     
  7. Acknowledging aids, donations, grants, and bequests seen in line with the objectives of the Authority.
     
  8. Settling the objections raised by the company in respect of amending the insurance's forms, policies and endorsements.
     
  9. Executing any other duties related to the Authority's affairs and objectives.

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