91. Offence of carrying on business as an insurance agent in contravention of this Act

Any person who carries on business as an insurance agent without being duly registered as an insurance agent with an insurer or broker, shall be guilty of an offence and shall on conviction after summary trial before a Magistrate, be liable to a fine not less than fifty thousand rupees or to imprisonment of either description for a term not less than one year or to both such fine and imprisonment.