Section 100: Regulation Fee

1) Every insurer obtaining the regulatory service by the Authority shall pay a regulation fee to the Authority every year in lieu of providing regulatory service by it to the insurer, calculated at the rate of 0.75  percent of the total premium earned from insurance fees by the insurer.

2) The insurance intermediary or other insurance service provider shall pay the Authority regulation fees as prescribed in lieu of receiving regulatory service from it.

3) The period, procedure, delay fee and other arrangements for payment of regulation fee as per sub-section (1) and (2) shall be as prescribed.