Housing Loans Insurance Act 1965
20Limitations in respect of contracts of insurance
Start here
Get a plain-English read of 20
Turn the raw legal text into a practical explanation grounded in Housing Loans Insurance Act 1965.
20 Limitations in respect of contracts of insurance
(1) The Minister may, from time to time, by instrument in writing, direct the Corporation not to enter into contracts of insurance in respect of a class of insurable loans specified in the direction, and the Corporation shall comply with that direction. (2) The Minister may, from time to time, by instrument in writing, direct the Corporation not to enter into contracts of insurance in respect of approved securities relating to a class of negotiable mortgage securities specified in the direction, and the Corporation shall comply with that direction. (3) The Minister may direct the Corporation, in writing, not to enter into specified classes of contracts of re‑insurance, and the Corporation shall comply with the direction.