Insurance Order, 2006 · As enacted
Section 57
Official textFrom Attorney General's Chambers, unchanged
When the Authority has reason to suspect or believe that a person is acting or holding himself out as an insurance broker, insurance intermediary or adjuster without being registered under this Order, he may call for or inspect the books, accounts and records of that person in order to ascertain whether or not that person has contravened any provisions of this Order.
Authority
"Authority" means such person as is appointed by His Majesty the Sultan and Yang Di-Pertuan under subsection 11) of section 4 to be the Authority for the purposes of this Order;
Any person who wilfully refuses to submit his books, accounts and records or to allow the inspection thereof shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000, increased by $2,000 for each day on which he is proved to have done so, imprisonment for a term not exceeding 12 months or both.
Saving for validity of policies.
Terms defined in s 2
adjuster
Defined · s 2"adjuster" means any person who for compensation, feel commission or salary investigates and negotiates settlement of claims arising under insurance contracts, solely on behalf of either the insurer or the insured;
Authority
Defined · s 2"Authority" means such person as is appointed by His Majesty the Sultan and Yang Di-Pertuan under subsection 11) of section 4 to be the Authority for the purposes of this Order;
insurance broker
Defined · s 2"insurance broker" means any company who, for compensation as an independent contractor, in any manner solicits, negotiates or procures insurance or the renewal or continuance thereof on behalf of an insured other than himself;
insurance intermediary
Defined · s 2"insurance intermediary" means a person who, as an agent for one or more insurers or as an agent for insured or intending insured, arranges contracts of insurance;