The Libya (United Nations Sanctions) (Channel Islands) Order 1993

Insurance of Libyan aircraft

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

(2) Except under the authority of a licence granted under this article or the 1992 Order—

(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 mentioned in article 14 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 the 1992 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.