Lloyd's Maritime and Commercial Law Quarterly
INTERNATIONAL LEGISLATION
ANTIGUA
Insurance (Amendment) Act 1977. This Act amends the Insurance Ordinance 1967 by providing for an increase in the deposit required from registered insurers from the existing $50,000 to $100,000. Where an insurer was already registered prior to the passing of this Act, he was required to pay the extra deposit or provide security approved by the Minister by Mar. 31, 1977.
Insurance Levy Act 1977. This Act imposes a levy (3 %) in respect of premiums accruing to insurance companies registered under the Insurance Ordinance Act 1967. It applies to all policies, both mercantile and life, whether new or existing. With regard to reinsurance with insurers outside Antigua, the levy is payable on the difference between the premium paid to the registered insurer and the reinsurance premium. Insurers are required to make a return each month to the authorities showing premiums received, reinsurance premiums paid and levy due.
Unpaid levy is recoverable as a civil debt due to the Crown. Failure to pay is an offence carrying a penalty of a fine of up to $2,500 or imprisonment for up to one year. Any director, manager, secretary or officer of a body corporate which has committed the offence shall be deemed guilty unless he proves that he did not assent to or connive in the commission of the offence.
ITALY
Compulsory Motor Insurance Decree-law 1976. This decree-law amends the Compulsory Insurance Act 1969, and provides for compulsory passenger insurance and also that third party insurance applies even if the vehicle is operated against the will of the owner. The insurer cannot raise against the assured clauses which require the assured to contribute to compensation and actions against insurers can only be brought 60 days after a claim. There are also provisions relating to the rights of insured persons in the event of liquidation of the insurer.
ST. CHRISTOPHER, NEVIS AND ANGUILLA
Insurance (Amendment) Act 1976 amends the Insurance Act 1968 by making the deposit with the Accountant General, required of registered insurers, 10% of annual average premium income, defined for the purposes of the Act as follows:—(1) insurer registered for less than two years: half the gross premiums of policies issued during the period he has carried on insurance business; (2) insurer registered for two years or more: the annual average of the gross premiums of policies issued within the previous two years or more (up to a maximum of 10 years). Provision is made for the furnishing of accounts to the Accountant General so that computation of the deposit can be made.
UNITED KINGDOM
Administration of Justice Bill—Second reading House of Lords, May 2, 1977. Provides (inter alia) for judgments on Bills of Exchange which are dishonoured in a foreign State to be given in the relevant foreign currency and for awards and judgments which
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