ARTICLE 1. In
these regulations, the following terms are used in lieu of the corresponding
phrases:
A.
Free Zones: Free Trade-Industrial Zones of the
Islamic Republic of Iran;
B.
Other parts of the country: the Islamic Republic of
Iran excluding the Free Zones;
C.
Zone: each one of the Free Zones;
D.
Authority: Authority responsible for the administration
of each Free Zone;
E. Institutions to which these
regulations apply: all institutions referred to in article 2 of these
regulations;
F.
Insurance institutions: the insurance institutions authorized
to operate, under the provisions of these regulations, in the Zone;
G.
Mutual insurance institutions: the insurance
institutions that render their services, in form of mutual insurance,
exclusively to their members;
H.
Insurance broking institution: a legal person that
acts as an intermediary between the parties of insurance and /or reinsurance
transactions in exchange for a commission and whose business is only to provide
insurance services;
I. Branch: a
unit, affiliated to one of the Iranian insurance institutions, operating within
the framework of functions and duties, and under the name and with the
authorization of the principal institution in the zone;
Insurance agency: a real
or legal person undertaking some of the functions and duties of an
Iranian insurance institution, in the Zone, on the basis of an insurance
agency contract and provisions of
these regulations