The Insurance Act

Prohibition of payment by way of commission or otherwise for procuring business

[Omitted.]

Limitation of expenses of management in life insurance business

Limitation of expenses of management in general insurance business

Prohibition of rebates

Appointment of insurance agents

Prohibition of insurance business through principal agent, special agent and multilevel    marketing

Issue of registration to intermediary or insurance intermediary

Commission, brokerage or fee payable to intermediary or insurance intermediary

Register of insurance agents

Power to call for information


COMMISSION AND REBATES AND LICENSING OF AGENTS 


1[40B. Limitation of expenses of management in life insurance business. --No insurer shall, in
respect of insurance business transacted by him in India, spend as expenses of management in any
financial year any amount exceeding the amount as may be specified by the regulations made under this
Act;] 

LAWGIST

# 40B Limitation of expenses of management in life insurance business