Financial requirements for exempt insurance brokers
27E.—(1) Regulations 27B and 27D shall apply to all exempt insurance brokers.
(2) Regulation 27C shall apply only to persons exempt from registration as insurance brokers under section 35ZN (1)(c) and (d) of the Act.
(3) Regulation 27E shall not apply to an exempt insurance broker carrying on only direct general insurance business for a period of 6 months from 1st October 2002 if the exempt insurance broker earns $25,000 or less in brokerage income in respect of its direct general insurance business during that 6 month period.