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S.L. 403.25 · Insurance Business (Protection And (S.L. 403.25)

S.L. 403.25 Art. 34Compensation.

PART IV

In KraftAmtlicher Text

(1) Where the Protection and Compensation Fund has established that compensation is due and a reasoned offer of compensation is made in accordance with regulation 33(2)(a), the Protection and Compensation Fund, shall pay compensation to the injured party without undue delay, and in any event within three (3) months of the acceptance by the injured party of the reasoned offer of compensation made in accordance with the said regulation.

(2) Where the damage has only been partially quantified, the Protection and Compensation Fund, shall apply the requirements concerning the payment of the compensation set out in sub-regulation (1), in respect of such partially quantified damage, and from the moment of acceptance of the corresponding reasoned offer of compensation.

(3) The Protection and Compensation Fund shall not make the payment of compensation under this regulation subject to any requirements apart from those established in these regulations. Furthermore, the Protection and Compensation Fund shall not make the payment of compensation subject to the requirement that the injured party establishes that the legal or natural person liable for the accident, is unable to, or refuses to pay.