Executive Order no. 168/96/M

of 15th July

(Unofficial translation, for reference only)

TARIFF OF PREMIUMS FOR PUBLIC LIABILITY INSURANCE RELATING TO THE FIXING OF PROPAGANDA AND PUBLICITY MATERIAL

See also: Decree-Law no. 38/96/M

The establishment of public liability insurance relating to the fixing of propaganda and publicity material in the territory of Macau and the transfer of such liability to insurers authorized to operate in Macau requires the approval of the tariff of premiums and conditions for the said insurance.

Hereby;

Taking into consideration the proposal of "Autoridade Monetária e Cambial de Macau", and after hearing the opinion of the municipal authorities and the Macau Insurers' Association; After hearing the Consultative Council;

Pursuant to the provision of Article 58 paragraph 2 of Decree-Law no. 6/89/M of 20th February, and under the terms of Article 16 paragraph 1 c) of the Macau Organic Statute, the Governor determines the following:

Article 1. It is hereby approved the tariff of premiums and conditions for public liability insurance relating to the fixing of propaganda and publicity material annexed hereto, which shall be compulsory for all the insurers who transact the said insurance in Macau.

Article 2. This Executive Order shall come into effect on 1st October 1996.

Government of Macau, on 10th July 1996.

To be published.

The Governor,

Vasco Rocha Vieira

TARIFF OF PREMIUMS FOR PUBLIC LIABILITY INSURANCE RELATING TO THE FIXING OF PROPAGANDA AND PUBLICITY MATERIAL

Article 1

(Application)

This tariff, which compulsorily applies to all public liability insurance policies relating to the fixing of propaganda and publicity material issued in the territory of Macau, sets out the rates, terms and conditions on which such insurance shall be written.

Article 2

(Proposal)

1. The insurance proposal shall obligatorily contain, in addition to other details considered convenient by the insurer, the following particulars:

a) Name, activity and address of the establishment of the proponent;

b) Details regarding the propaganda and publicity material (wordings or symbols thereon, its location, manner in which the said material has been fixed, maker's name, if such material is regularly inspected and if so by whom - giving the relevant name and address);

c) Date of commencement, duration and termination of the insurance.

2. The proposal form shall not contain any erasures, namely in relation to the above particulars.

3. The proposal form shall be signed by the legal representative of the proponent.

Article 3

(Period of insurance)

The duration of the insurance contracts covered by this Tariff may be of :

a) One year renewable, when the policy is contracted for annual periods, renewed automatically, unless the insured or the insurance company renounces it by giving notice of cancellation to the other party by registered letter at least 30 days prior to the renewal date;

b) Short-term period, when the policy is contracted for a period less than or equal to one year.

Article 4

(Premium)

1. The annual premiums for a maximum indemnity of MOP100,000.00 per event shall be

as follows:

a) With application of an excess of MOP1,000.00 per claim - MOP300.00

b) With application of an excess higher than that stated in a)

2. To cover limits of indemnity per event higher than MOP100,000.00, the following additional charges shall be applied to the premium calculated under the terms of the preceding paragraph:

Article 5

(Restriction on payment of premium by installments)

Payment of premiums by installments shall not be permissible under this Tariff.

Article 6

(Insurance contracts for a period of less than one year)

For insurance contracts having periods of less than one year, the following percentages of annual premium shall be collected as minimum premium:-

- Insurance of up to one month - 20%

- Insurance of over one month but less than or equal to three months - 40%

- Insurance of over three months but less than or equal to five months - 60%

- Insurance of over five months but less than or equal to eight months - 80%

- Insurance of over eight months - 100%

Article 7

(Additional charges)

The only additional charge applicable on the premiums and surcharges shall be the percentage fixed by law for stamp duty.

Article 8

(Cancellation of contract or reduction of the limit of indemnity)

1. When the decision for the cancellation of the insurance policy, or the reduction of the limit of indemnity is taken by the insurance company, the premium refundable by the insurance company shall be calculated proportionately to the unexpired period.

2. Where the decision for the cancellation or the reduction is taken by the insured, the refund of premium shall be calculated according to the terms set out in Article 6.

Article 9

(Rounding off)

1. The amount of premium and surcharges shall be rounded off to the next higher unit of Pataca.

2. The stamp duty shall be rounded off in terms of the law.

Article 10

(Commencement)

1. The premiums and conditions of this Tariff shall be applied to all new insurances issued on or after 1st October 1996.

2. The present Tariff shall also apply, from the first renewal after the date mentioned in the preceding paragraph, to all insurances in force on that date.

SCHEDULE OF ANNUAL PREMIUMS BASED ON THE LIMITS OF INDEMNITY AND THE RESPECTIVE EXCESS

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