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  • Chapter Four — Fees, Penalties and Final Provisions

    • Article 34

      Subject to the approval of the Council of Ministers, the Minister for Commerce and Agriculture shall be empowered to impose a fee to be determined by him for:

      First: every licence issued to any insurance company or organisation for engaging in the business of one of the insurance branches set forth in Article 4 of this law.
      Second: every insurance policy issued by the insurance companies and organisations subject to the provisions of this Law and every renewal of such policy.
      Third: registration in the Registers of insurance brokers, actuaries, inspection and loss adjusters and insurance consultants and for every renewal of such registration.

    • Article 35

      Without prejudice to any severer penalty provided for in the Penal Code or in any other Law, a penalty of imprisonment for a period of no more than three months and a fine of no less than BD. 100 and no more than BD.500, or either penalty, shall be inflicted upon every person who carries on the business of insurance broker, actuary, inspection and loss adjuster or insurance consultant without being registered in the Register kept for this purpose at the Ministry of Commerce and Agriculture or without renewing his registration within the time limit stipulated by the Law.

      The penalty shall be doubled in case of recurrence of the offence.

    • Article 36

      The Minister for Commerce and Agriculture shall issue the necessary orders for the implementation of this law.

    • Article 37

      The Ministers, each in his respective capacity, shall implement this Law which shall come into effect six months after the date of its publication in the official Gazette.

      Signed: Isa bin Sulman Al Khalifa
      Amir of the State of Bahrain
      Issued: at Riffa Palace on
      5 Jumada Al Awwal, 1408 Hijra
      Corresponding to 26 December 1987.