The Insurance Act, 2005 - Bahamas Financial Services Board

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Commission.
are provided by Parliament;
(b) any moneys as from time to time may
accrue to the Commission from its
operations, including fees, fines and a
percentage of the business licence fees
or premium tax collected from registered
insurers and associations;
(c) any moneys as from time to time are
borrowed by the Commission pursuant to
section 11;
(d) any moneys as from time to time are
advanced to the Commission pursuant to
section 12;
(e) any moneys or other property as from
time to time may in any manner be
lawfully paid to or vested in the
Commission whether or not in respect of
any matter incidental to its functions.
Borrowing 11. (1) Subject to this section, the Commission
powers. may borrow moneys required by it for meeting any of its
obligations or discharging any of its functions and may in
respect of any borrowing, issue debentures in such forms as
the Commission may determine.
(2) Any borrowing of the Commission pursuant to
subsection (1) shall be subject to the approval of the
Minister of Finance as to the amount to be borrowed, the
source of the borrowing and the terms on which the borrowing
may be effected.
(3) An approval given for the purposes of this
section may be either general or limited to a particular
borrowing or otherwise and may be either unconditional or
subject to conditions.