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Feb 21, 2020 - Mar 2, 2016 - Oct 11, 2005 - Insurance Act. 1996 replaced. Insurance Act. 1963. •The close supervision of solvency and market conduct and the strengthening of regulatory.Dec 31, 2010 - Jan 1, 1997 - Third party rights against insurers on bankruptcy, etc. of the insured. 44. Duty to give necessary information to third parties. 45. Settlement between insurers and Jan 23, 1997 - "Bank" means the Central Bank established by the Central Bank of Malaysia Act 1958 [Act 519]; "body corporate" means a person incorporated by or under any Under section 151 of the Insurance Act 1996,[4] an insurance agent is, for the legislative provision on unfair contract terms in Malaysia, the proposition that an