The Libya (United Nations Sanctions) (Channel Islands) Order 1992

Insurance of Libyan aircraft

8.—(1) This article applies to any contract of insurance, other than a contract ofre-insurance, upon a Libyan aircraft or upon the machinery, tackle, furniture or equipment of a Libyan aircraft.

(2) Except under the authority of a licence granted under this article—

(a) in the case of the Bailiwick of Guernsey, by the Lieutenant Governor;

(b) in the case of the Bailiwick of Jersey, by the Finance and Economics Committee,

no person shall—

(i) make payment in full or partial settlement of any claim under a contract of insurance to which this article applies, unless the claim is in respect of an incident occurring before the coming into force of this Order;

(ii) effect any new contract of insurance, or agree to any variation or extension of any existing contract of insurance, to which this article applies.