Minimum paid-up share capital
27B.—(1)  For the purposes of section 35Y(1)(b) of the Act, an applicant who intends to be registered as a direct general insurance broker, a general reinsurance broker or a life reinsurance broker shall have a paid-up share capital of an amount not less than $300,000.
(2)  An applicant who intends to be registered as an insurance broker in respect of more than one type of insurance broking business shall have a paid-up share capital of not less than the aggregate of the amounts of paid-up share capital specified in paragraph (1) in respect of each of those businesses.
(3)  A registered insurance broker shall maintain at all times a paid-up share capital of an amount that is not less than the minimum amount of paid-up share capital applicable to it by virtue of paragraph (1) or (2), as the case may be.