Documents to be lodged by exempt insurance brokers
11. An exempt insurance broker shall lodge with the Authority —
(a)
a notice of commencement of business in Form E in the Schedule, not later than 14 days after the commencement of its business as a direct insurance broker, a general reinsurance broker or a life reinsurance broker, as the case may be;
(b)
a notice of change of particulars in Form F in the Schedule setting out any change in the particulars of the exempt insurance broker provided in the notice referred to in paragraph (a), not later than 14 days after the date of the change;
(c)
a notice of intention to cease its business as a direct insurance broker, a general reinsurance broker or a life reinsurance broker, as the case may be, in Form G in the Schedule, at least 14 days before the proposed date of cessation of all of its business as an insurance broker;
(d)
an audited statement of the insurance broking premium account in Form H in the Schedule in respect of its business as a direct insurance broker, a general reinsurance broker or a life reinsurance broker, as the case may be, within 5 months from the end of each financial year or within such longer period as the Authority may allow; and
(e)
a statement in Form I in the Schedule, within 5 months from the end of each financial year or within such longer period as the Authority may allow, giving particulars as to the type and placement of all its business as an insurance broker handled during that financial year, and —
(i)
in the case of an exempt direct insurance broker, a statement in Annex 1 to Form I in the Schedule giving particulars on the 5 insurers with whom the largest volume of its business was placed; and
(ii)
in the case of an exempt reinsurance broker, a statement in Annex 2 to Form I in the Schedule giving further details on the sources and placement of its business.