President Mohamed Nasheed has today ratified the first amendment Bill to Act number 5/2009 (Land Transport Act), which was passed by the People’s Majlis on 12 April 2010.
The bill has been published in the Government Gazette.
With the new amendment, requirement to obtain compulsory third party insurance for all motor vehicles under Article 66(a) of Land Transport Act has been postponed to come into force 3 years from the date the Act come ton to office.
The Act now also states that a regulation on Third Party Insurance should be made 6 months before the Article 66(a) comes into effect. Also, a regulation specifying the mechanisms for investigation of accidents, identifying the cost of damage and claim for damage should be made public.
