CL-2.3.4

Past version: Effective from 01 Jul 2015 to 30 Jun 2023
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Except as permitted under Paragraph CL-2.3.4A, insurance brokers and corporate appointed representatives are prohibited from deducting their brokerage commission from the premiums/contributions account(s). Insurance brokers and corporate appointed representatives must be paid separately their brokerage commission from the insurance firms after transferring the amounts due (premiums/contributions) to insurance firms no later than (10) calendar days from the receipt of the premiums/contributions by insurance firms.

Amended: July 2015
April 2012