Insurance Order, 2006 · As enacted
46. Insurance agents to act only for insurers entitled to carry on business in Brunei Darussalam
Official textFrom Attorney General's Chambers, unchanged
No person shall carry on insurance business in Brunei Darussalam as an insurance agent for any insurer not entitled under this Order to carry on business in question in Brunei Darussalam and any person contravening this section shall be guilty of an offence and shall be liable on conviction to a fine not exceeding
insurance business
"insurance business" includes the business of effecting and carrying out contracts {a} protecting persons against loss or liability to loss in respect of risks to which such persons may be exposed; or {b) to pay a sum of money or render money and includes reinsurance business;
$20,000, increased by a fine not exceeding $4,000 for each day on which he is~ s 'l%joq.
proved to have done so, imprisonment for a term not exceeding one year or both.
Application of section 45.
Terms defined in s 2
insurance agent
Defined · s 2"insurance agent" means a person who does all or any of the following- {a} solicits or obtains a proposal for insurance on behalf of an insurer; 999 20th. MARCH, 2006 {b) offers or assumes to act on behalf of an insurer in negotiating a policy; {c) does any act on behalf of an insurer in relation to the issuance, renewal or continuance of a policy;
insurance business
Defined · s 2"insurance business" includes the business of effecting and carrying out contracts {a} protecting persons against loss or liability to loss in respect of risks to which such persons may be exposed; or {b) to pay a sum of money or render money and includes reinsurance business;