Long Term Insurance Act, 1998 (Act No. 52 of 1998)Part VIII : Offences and penalties66. Offences by persons other than long-term insurers |
| (1) | A person, other than a long-term insurer, who— |
| (a) | contravenes or fails to comply with a provision of section 44(1) , 45 , 47 or 49 ; or |
| (b) | furnishes false information in relation to an application for approval under a provision of this Act, shall be guilty of an offence and liable on conviction to a fine not exceeding R5 million or to imprisonment for a period not exceeding five years, or to both such fine and such imprisonment. |
| (2) | A person, other than a long-term insurer, who contravenes or fails to comply with a provision of section 8(3) shall be guilty of an offence and liable on conviction to a fine not exceeding R10 million or to imprisonment for a period not exceeding 10 years, or to both such fine and such imprisonment. |
[Section 66 substituted by section 17 of schedule 1 of Act No. 18 of 2017]