Legislative Base
The primary legislation from which the IPA derives its powers includes:
- The Insurance Act 1986
- The Retirement Benefits Schemes Act 2000
In addition the IPA oversees implementation of the Anti Money Laundering Standards, secondary legislation which sets out how businesses regulated by it must conduct themselves in order to prevent their being used by money launderers or for terrorist finance.
Read more about this topic: Insurance And Pensions Authority (Isle Of Man)
Famous quotes containing the words legislative and/or base:
“However much we may differ in the choice of the measures which should guide the administration of the government, there can be but little doubt in the minds of those who are really friendly to the republican features of our system that one of its most important securities consists in the separation of the legislative and executive powers at the same time that each is acknowledged to be supreme, in the will of the people constitutionally expressed.”
—Andrew Jackson (1767–1845)
“I am sure my bones would not rest in an English grave, or my clay mix with the earth of that country. I believe the thought would drive me mad on my death-bed could I suppose that any of my friends would be base enough to convey my carcass back to her soil. I would not even feed her worms if I could help it.”
—George Gordon Noel Byron (1788–1824)