Insurance Order, 2006 · s 6

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s 6Holding out as a registered insurer

Where any company holds itself out to be a registered insurer in respect of life business or general business when it is not registered under this Order in respect of that business, the company shall be guilty of an offence, and every director, manager or officer of the company shall, unless he proves that the holding out by the company was made without his knowledge or consent, be guilty of an offence and shall be liable on conviction to a fine not exceeding

$25,000, imprisonment for a term not exceeding 3 years or both, and in the case of a continuing offence to a further fine not exceeding $2,000 for every day during which the offence continues after conviction.