6. Section 7 of the principal enactment is hereby amended as follows :-
| (a) by the repeal of subsection (1) of that section, and the subsection of the following subsection there for:
| | "(1) Where the Controller is satisfied that any company making an application for registration under this Act has complied with the provisions of sections 5 and 6, the Controller shall register such company as a person authorized to carry on insurance business in Sri Lanka and shall specify the class or classes of insurance business which such company is authorized to carry on. ". | | |
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| (b) by the insertion immediately after subsection (2) of that section, of the following new subsection;
| | "(3) Every certificate of registration issued under subsection (2) of this section shall be valid for a period of one year and subject to the provisions of this Act, may be renewed annually on the payment of a fee of five thousand rupees. ". | | |
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Sri Lanka Consolidated Acts