IT is hereby notified that the Minister of Finance and Economic Development has, in terms of section 33 of the Insurance and Pensions Commission Act [ Chapter 24:21], made the following regulations:—
1. These regulations may be cited as the Insurance and Pensions Commission (Levy) Regulations, 2020.
2. In these regulations:—
“levy” means a levy imposed in terms of section 30(1) of the Act;
“net written premium” means gross premium less reinsurance and fees payable to brokers or any other deduction whose recipient or benefi ciary shall be levied under this statutory instrument.