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Article 9

Transfer of policies issued by insurance companies and organisations together with the obligations arising therefrom shall take place with the consent of the Minister for Commerce and Agriculture, provided that in the case of long-term business particularly life insurance business they shall be accompanied by a detailed report prepared by an independent actuary.

In such case, the funds corresponding to the concerned companies obligations shall be transferred to the company to which the policies have been transferred without prejudice to the provisions relating to ownership and assignment of properties.