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5. Ad hoc fee

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(1)

A direct life insurer that requests for ad hoc services from the Authority, or a specified person, in relation to the web aggregator must pay to the Authority an ad hoc fee in connection with its usage of the web aggregator.

(2)

The ad hoc fee is calculated in accordance with the Second Schedule.

(3)

The Authority must not charge an ad hoc fee —

(a)

where the ad hoc services are requested to rectify an error that is not the fault of the direct life insurer; or

(b)

where no cost is incurred by the Authority in providing the ad hoc services.

(4)

An ad hoc fee payable under paragraph (1) must be paid to the Authority on or before the date specified in a written demand sent by the Authority to the direct life insurer.

Subregulation 1

A direct life insurer that requests for ad hoc services from the Authority, or a specified person, in relation to the web aggregator must pay to the Authority an ad hoc fee in connection with its usage of the web aggregator.

Subregulation 2

The ad hoc fee is calculated in accordance with the Second Schedule.

Subregulation 3

The Authority must not charge an ad hoc fee —

(a)

where the ad hoc services are requested to rectify an error that is not the fault of the direct life insurer; or

(b)

where no cost is incurred by the Authority in providing the ad hoc services.

Subregulation 4

An ad hoc fee payable under paragraph (1) must be paid to the Authority on or before the date specified in a written demand sent by the Authority to the direct life insurer.

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