Section 98, The Insurance Act, 2016

(1) An insurance business shall not be registered by aname identical to that by which any insurance business in existence is already registered or so nearly resembling that name as to be likely to deceive, except where the insurance business in existence is in the course of being dissolved and signifies its consent to the (2) If any insurance business, through inadvertence or otherwise, is without such consent registered by a name identical with that by which an insurance business already in existence whether previously registered or not is carrying on business or so nearly resembling it as to be likely to deceive, the first mentioned insurance business shall if called upon to do so by the Commission on the application of the second mentioned insurance business, change its name within a time to be fixed by the Commission. 58 59 Prosecution of offences. Power of court to grant relief. Action of etc to be reviewed. Publication of registration and cancellation of registration in the Gazette. Insurers to be subject to the Act while liabilities remain unsatisfied Exemption from Act to certain insurers ceasing to transact Similarity of names of insurers. No. 12 Insurance Act 2016No. 12 Insurance Act 201660 61