Insurance broker not to carry on business unless registered
35W.—(1)  No person shall carry on business as an insurance broker in Singapore in respect of any class of insurance business unless —
(a)the person is registered by the Authority in respect of that class of business; or
(b)the person is exempted from registration under section 35ZN.
[41/2001]
(2)  Any person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $75,000 or to imprisonment for a term not exceeding 3 years or to both and, in the case of a continuing offence, to a further fine not exceeding $7,500 for every day or part thereof during which the offence continues after conviction.
[41/2001]