Short-Term Insurance Act, 1998 (Act No. 53 of 1998)

Regulations

Regulations under the Short-term Insurance Act, 1998 (Act No. 53 of 1998)

Part 5 : Remuneration (Section 48)

Part 5A : Limitation on Remuneration for Services as Intermediary

5.4 Reversal of commission
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If a premium or any part thereof is for any reason refunded by a short-term insurer or Lloyd's broker, the commission payable in terms of this Part in respect of that premium, or the part of that premium, which is so refunded, shall be refunded, to the short-term insurer by the person to whom it was paid.