In forceAmended2020 Revised EditionCurrent version · 2020 Revised EditionSee versions on Singapore Statutes Online(opens the publisher’s site)
Insurance Act 1966 · 2020 Revised Edition · Part 2B · Insurance Intermediaries
75. Insurance broker not to carry on business unless registered
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Last amended by an amending law of 2003.
(1)
A person must not carry on business as any type of insurance broker in Singapore unless —
(a)
the person is registered by the Authority as that type of insurance broker; or
(b)
the person is exempted from registration under section 92.
(2)
Any person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $75,000 or to imprisonment for a term not exceeding 3 years or to both and, in the case of a continuing offence, to a further fine not exceeding $7,500 for every day or part of a day during which the offence continues after conviction.[35W