Short-Term Insurance Act, 1998 (Act No. 53 of 1998)Part IX : Offences and penalties64. Offences by persons other than short-term insurers |
| (1) | A person, other than a short-term insurer, who— |
| (a) | contravenes or fails to comply with a provision of section 43(1), 44, 45 or 48; |
| (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 short-term insurer, who contravenes or fails to comply with a provision of section 8(2) 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 64 substituted by item 16 of schedule 1 of Act No. 18 of 2017, GG 41388, dated 18 January 2018]