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Short-Term Insurance Act, 1998 (Act No. 53 of 1998)

Part IX : Offences and penalties

64. Offences by persons other than short-term insurers

 

(1) A person, other than a short-term insurer, who—
(a) contravenes or fails to comply with a provision of section 43(1), 44, 45 or 48;
(b) furnishes false information in relation to an application for approval under a provision of this Act,

shall be guilty of an offence and liable on conviction to a fine not exceeding R5 million or to imprisonment for a period not exceeding five years, or to both such fine and such imprisonment.

 

(2) A person, other than a short-term insurer, who contravenes or fails to comply with a provision of section 8(2) shall be guilty of an offence and liable on conviction to a fine not exceeding R10 million or to imprisonment for a period not exceeding 10 years, or to both such fine and such imprisonment.

 

[Section 64 substituted by item 16 of schedule 1 of Act No. 18 of 2017, GG 41388, dated 18 January 2018]

 

 


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