(cf former s 18 (9A))
(1A) A reference--(a) in this section to a licensed insurer includes a reference to a scheme agent, and(b) in subsections (1)-(3) to an agent does not include a reference to a scheme agent.
(1) A licensed insurer shall not pay any amount by way of commission or other remuneration to an insurance broker, agent or intermediary in relation to the issue or renewal of a policy of insurance.
(2) A licensed insurer shall send any cover note, policy of insurance or renewal notice (or any notice under any policy of insurance) direct to the employer concerned and not to an insurance broker, agent or intermediary.
(3) An employer shall pay any premium under a policy of insurance direct to the licensed insurer and not to an insurance broker, agent or intermediary.
(4) This section does not apply in any case specified in the regulations or approved by the Authority.
(5) This section does not apply to a specialised insurer.
: Maximum penalty--200 penalty units.