Insurance Act No.54 of 2005 - Vanuatu Financial Services ...

(2) A person must not:(a)(b)publish an advertisement, brochure or similar document in contravention ofsubsection (1); orpublish a variation of an advertisement, document or brochure unless the variationhas been approved by the Commission.(3) The Commission must, 14 days after receiving a copy of the advertisement, brochure orsimilar document, make a decision on whether or not to approve a variation referred to insubsection (2).9 Policy classificationThe Commission may determine that an insurance policy is a particular kind of policy as definedin section 1 if:(a)(b)the licensed insurer issuing the policy has not classified the policy correctly; orthe insurer requests the Commissioner to classify the policy.10 Appointment of Inspector(1) The Commission may appoint an inspector for the purposes of section 11 only if itconsiders it necessary in the interests of:(a)(b)the public or the licensee's clients, policyholders or potential policyholders; orthe reputation of Vanuatu as a financial centre.(2) The Commission must inform the licensee, in writing, that the inspector has beenappointed.(3) An inspector is bound by the same confidentiality and code of conduct requirements asthe staff of the Commission.(4) An inspector must produce evidence of his or her appointment as inspector if requested todo so during an investigation.11 Investigation by Inspectors(1) An inspector has the power to investigate and report on:(a)the nature, conduct or state of a licensee’s business or particular aspect of thatbusiness; and16