Insurance companies and organisations subject to the provisions of this Law shall maintain books and records wherein shall be entered the insurance policies issued by the Company together with the details of the names and addresses of policy holder, date of concluding each policy and the applicable rates and terms. There shall be recorded in these books and records every alteration or amendment occurring to the aforesaid policies.

The Minister for Commerce and Agriculture may issue an order compelling insurance companies and organisations to enter in the said books and records any particulars he deems fit for the proper exercise of his authority relating to control and supervision.

In addition, the Minister for Commerce and Agriculture may by an order exempt any company or organisation having computerised operations from maintaining the books and records hereinabove referred to.