Insurance Act, 1989
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Offences committed by intermediaries. |
41.—(1) Subject to subsection (2), where— | |
(a) an insurance intermediary accepts a commission payment, | ||
(i) from a person who has been sent a notice under section 37 or a copy of such a notice, or from a person acting on behalf of such a person, and | ||
(ii) the payment is higher than the level specified in relation to such payments under the notice, and | ||
(iii) the payment is made after the date specified in the notice, or | ||
(b) an insurance intermediary accepts a commission payment contravening section 38 , | ||
the intermediary shall be guilty of an offence. | ||
(2) In a prosecution for an offence under this section, it shall be a defence for the defendant to show that he did not know, and could not reasonably be expected to have known, that the commission payment concerned was— | ||
(a) higher than the level specified in relation to a payment of that kind in the notice concerned under section 37 and that, upon its becoming known to him, he returned the excess of the commission payment concerned to the person who made it, or | ||
(b) in contravention of section 38 and that, upon its becoming known to him, he returned the commission payment concerned to the person who made it. |