27J.—(1) A registered insurance broker shall pay to the Authority —
(a)
if it is registered as a direct general insurance broker, an annual fee of $7,000;
(b)
if it is registered as a general reinsurance broker, an annual fee of $5,000; or
(c)
if it is registered as a life reinsurance broker, an annual fee of $2,500.
(2) The annual fee payable by a registered insurance broker shall be paid to the Authority on or before 1st January of every year.
(3) A registered insurance broker who is licensed under section 35ZG(1) of the Act shall pay to the Authority on or before 1st January of every year an annual fee of $5,000.