(3)Within sixty days of the commencement of the Insurance (Amendment) Act, 1950 ( 47 of 1950 ), every chief agent shall file with the insurer concerned a full list of the insurance agents employed by hi m, indicating the terms of the contract between the chief agent and each of such insurance agents and the business secured by each of such agents, and if any chief agent fails to file such a list within the period specified, any commission payable to such chief agent on premiums received from the date of the expiry of the said period of sixty days until the date of the filing of the said list shall, notwithstanding anything in any contract to the contrary, cease to be so payable.
