31B. Power to restrict payment of excessive remuneration
[31B. Power to restrict payment of excessive remuneration. — No insurer shall in respect of insurance business transacted by him, shall pay to any person by way of remuneration, whether by way of commission or otherwise in excess of such sum as may be specified by the regulations.]
Amendment notes (1)
- Subs w.e.f. 26-12-2014 . Subs. by s. 32, ibid., for section 31B (w.e.f. 26-12-2014).