Commonwealth Numbered Acts

Insurance (Agents and Brokers) Act 1984 No. 75 of 1984 - SECT 35

35. (1) An insurance broker shall not receive from an insurer or from a person
on behalf of an insurer a gift, gratuity, benefit or other reward (however
described) except as remuneration for services rendered to the insurer-

   (a)  in arranging or effecting a particular contract of insurance;

   (b)  in connection with dealing with or settling a claim under a particular
        contract of insurance; or

   (c)  otherwise than in connection with the broker arranging or effecting
        contracts of insurance or dealing with or settling claims under
        contracts of insurance.

(2) An insurer shall not pay to an insurance broker, and an insurance broker
shall not receive from an insurer, in respect of the arranging or effecting of
contracts of insurance by that insurance broker with the insurer, remuneration
at a rate or on a basis that has been varied having regard to any one or more
of the following:

   (a)  the number of contracts so arranged or effected;

   (b)  the total amount of premiums paid or payable under such contracts;

   (c)  the total amount of sums insured under such contracts.

(3) Neither sub-section (1) nor (2) has effect in relation to contracts of
insurance effected under a binder or in relation to claims dealt with or
settled under a binder, as the case may be, if the broker has complied with
the requirements of section 16 or 17, as the case may be.

Penalty:

   (a)  in the case of a natural person-$2,000 or imprisonment for 1 year, or
        both; or

   (b)  in the case of a corporation-$10,000.