(1)
Every banking company, insurance company or a deposit, provident or benefit society shall, before it commences business, and also on the first Monday in February and the first Tuesday in August in every year during which it carries on business, submit to the Commission a statement in the form in the Fourteenth Schedule to this Act or as near thereto as circumstances may admit.
(2)
A copy of the statement shall be put up in a conspicuous place in the registered office of the company, and in every branch office or place where the business of the company is carried on.
(3)
Every member or creditor of the company is entitled to a copy of the statement, on payment of a sum prescribed in the regulation.
(4)
If default, is made in complying with this section, the company and every director and manager of the company is liable to a penalty prescribed in the regulation for everyday during which the default continues.
(5)
For the purposes of this Act, a company that carries on the business of insurance in common with any other business or businesses is deemed to be an insurance company.