Commonwealth Numbered Acts

Insurance (Agents and Brokers) Act 1984 No. 75 of 1984 - SECT 21

21. (1) Subject to sub-section (2), where an application is made to the
relevant Commissioner under section 20, the Commissioner shall, if-

   (a)  a contract of insurance is required under paragraph 19 (1) (b) and he
        is satisfied that there is in force such a contract in respect of the
        applicant;

   (b)  where the applicant is already carrying on business as an insurance
        broker-the applicant has furnished to the Commissioner audited
        accounts of that business to the satisfaction of the Commissioner; and

   (c)  the applicant has paid such fee as is prescribed, register the
        applicant and give him a certificate of registration.

(2) The relevant Commissioner may refuse to register an applicant if, to the
knowledge of the Commissioner, the applicant or a director, employee or agent
of the applicant has been convicted of an offence as referred to in
sub-section 25 (1).

(3) Registration of a person under this section has effect for a period of one
year.

(4) If a registered insurance broker applies to the relevant Commissioner for
the cancellation of the registration of the broker under this section and that
Commissioner is satisfied that the broker is no longer carrying on business as
an insurance broker in relation to life insurance business or
general insurance business, as the case may be, that Commissioner may cancel
the registration of the broker under this section in respect of the insurance
business concerned.

(5) Where a Commissioner registers an applicant under this section, or cancels
the registration of an insurance broker under this section, he shall cause
notice of the registration or cancellation to be published in the Gazette.