Regulation 6

The Authority may at any time add to, vary or revoke any existing condition of approval of an approved insurance broker or impose any new condition thereto.

Any approved insurance broker who contravenes any of the conditions imposed by the Authority under paragraph (1) or regulation 4(3) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $25,000 and, in the case of a continuing offence, to a further fine not exceeding $2,500 for every day or part thereof during which the offence continues after conviction.