Insurance Order, 2006 · s 51

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s 51

(1)

Subject to subsection (2), no insurance broker shall in the course of his business as such negotiate any contract of insurance with an insurer other than an insurer entitled under this Order to carry on the business in question in Brunei

Darussalam{ and no person in Brunei Darussalam shall solicit insurance business for an insurer not entitled to carry on that business in Brunei Darussalam; and any person contravening this subsection shall be guilty of an offence and shall be liable on conviction to a :ftne not exceeding $20,000, increased by a :ftne not exceeding $4,000 for each day on which he is proved to have done so, imprisonment for a term not exceeding one year or both.

(2)

The references in subsection ( 1) to a contract of insurance and to insurance business shall not apply to reinsurance or business relating to risks outside Brunei Darussalam or such other risks as may be prescribed.

1031

Application of sections 40 to 45.