Sri Lanka Consolidated Acts

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Control Of Insurance Act (No. 25 of 1962) - Sect 71

Offence of carrying on or commencing any insurance business without registration or of carrying on any class of insurance business not authorized

71. Any person who-
(a) carries on any insurance business, or commences any insurance business, without being duly registered under this Act, or
(b) carries on any class of insurance business which he is not authorized under this Act to carry on,
shall be guilty of an offence and shall, on conviction after summary trial before a Magistrate, be liable to a fine not exceeding one thousand rupees or to imprisonment of either description for a term not exceeding one year or to both such fine and imprisonment.

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