Implementation of Geneva Conventions Act, 2012
R 385
Short-Term Insurance Act, 1998 (Act No. 53 of 1998)RegulationsRegulations under the Short-term Insurance Act, 1998 (Act No. 53 of 1998)Part 5 : Remuneration (Section 48)Part 5C : Notification of Certain Arrangements with Independent Intermediaries or Representatives5.11 Notification of certain arrangements with independent intermediaries or representatives |
An insurer must at least 30 days before entering into an arrangement to pay remuneration to an independent intermediary or representative for a service, function or activity which in the opinion of the insurer does not constitute services as intermediary or a binder function notify the Authority In writing and in the format determined by the Authority of the arrangement to be entered into.
[Regulation 5.11 inserted by regulation 5(e) of Act No. 1439 of 2017]
