Section 42E(1) in The Insurance (Amendment) Act, 2002
(1)No intermediary or insurance intermediary shall be paid or contract to be paid by way of commission, fee or as remuneration in any form, an amount exceeding thirty er cent. of the premium payable as may be specified by the regulations made by the Authority, in respect of any policy or policies effected through him:Provided that the Authority may specify different amounts payable by way of commission, fee or as remuneration to an intermediary or insurance intermediary or different classes of business of insurance.
