353(1)The Superintendent may, upon the payment of the prescribed fee, issue to any suitable person resident outside the Province a licence to act in the Province as an insurance broker to negotiate, continue or renew contracts of insurance other than life insurance or to place risks or effect insurance with any duly licensed insurer or its agent.

353(2)The applicant for such licence shall file with the Superintendent a written application under oath upon a form provided by the Superintendent in which the applicant shall state his name, age, residence and occupation at the time of making the application, his occupation for the five years next preceding the date of the application and such other information as the Superintendent may require. The applicant shall declare that he intends to hold himself out publicly and carry on business in good faith as an insurance broker and he shall furnish a statement as to his trustworthiness and competency signed by at least three reputable persons resident in the Province.

353(3)If the Superintendent is satisfied with the statement and information required by subsection (2), he shall issue the licence applied for, and the licence shall expire at such time as the regulations provide unless sooner revoked or suspended.

353(4)The licence may, in the discretion of the Superintendent, be renewed upon payment of the prescribed fee without requiring anew the detailed information hereinbefore specified.

353(5)The Superintendent may for cause shown and after a hearing, revoke the licence, or may suspend it for a period not exceeding the unexpired term thereof, and may for cause shown and after a hearing revoke the licence while so suspended, and shall notify the licensee in writing of such revocation or suspension and may publish a notice of such revocation or suspension in such manner as he may deem necessary for the protection of the public.

353(5.1)A decision of the Superintendent to revoke or suspend a licence under subsection (5) may be appealed to the Tribunal.

353(6)Subject to section 361 a broker shall not be presumed to be the agent of the insurer or the agent of the insured by reason of the issue to him of a licence under this section.

353(1)The Superintendent may, upon the payment of the prescribed fee, issue to any suitable person resident outside the Province a licence to act in the Province as an insurance broker to negotiate, continue or renew contracts of insurance other than life insurance or to place risks or effect insurance with any duly licensed insurer or its agent.

353(2)The applicant for such licence shall file with the Superintendent a written application under oath upon a form provided by the Superintendent in which the applicant shall state his name, age, residence and occupation at the time of making the application, his occupation for the five years next preceding the date of the application and such other information as the Superintendent may require. The applicant shall declare that he intends to hold himself out publicly and carry on business in good faith as an insurance broker and he shall furnish a statement as to his trustworthiness and competency signed by at least three reputable persons resident in the Province.

353(3)If the Superintendent is satisfied with the statement and information required by subsection (2), he shall issue the licence applied for, and the licence shall expire at such time as the regulations provide unless sooner revoked or suspended.

353(4)The licence may, in the discretion of the Superintendent, be renewed upon payment of the prescribed fee without requiring anew the detailed information hereinbefore specified.

353(5)The Superintendent may for cause shown and after a hearing, revoke the licence, or may suspend it for a period not exceeding the unexpired term thereof, and may for cause shown and after a hearing revoke the licence while so suspended, and shall notify the licensee in writing of such revocation or suspension and may publish a notice of such revocation or suspension in such manner as he may deem necessary for the protection of the public.

353(6)Subject to section 361 a broker shall not be presumed to be the agent of the insurer or the agent of the insured by reason of the issue to him of a licence under this section.

353(1)The Superintendent may, upon the payment of the prescribed fee, issue to any suitable person resident outside the Province a licence to act in the Province as an insurance broker to negotiate, continue or renew contracts of insurance other than life insurance or to place risks or effect insurance with any duly licensed insurer or its agent.

353(2)The applicant for such licence shall file with the Superintendent a written application under oath upon a form provided by the Superintendent in which the applicant shall state his name, age, residence and occupation at the time of making the application, his occupation for the five years next preceding the date of the application and such other information as the Superintendent may require. The applicant shall declare that he intends to hold himself out publicly and carry on business in good faith as an insurance broker and he shall furnish a statement as to his trustworthiness and competency signed by at least three reputable persons resident in the Province.

353(3)If the Superintendent is satisfied with the statement and information required by subsection (2), he shall issue the licence applied for, and the licence shall expire at such time as the regulations provide unless sooner revoked or suspended.

353(4)The licence may, in the discretion of the Superintendent, be renewed upon payment of the prescribed fee for each succeeding year without requiring anew the detailed information hereinbefore specified.

353(5)The Superintendent may for cause shown and after a hearing, revoke the licence, or may suspend it for a period not exceeding the unexpired term thereof, and may for cause shown and after a hearing revoke the licence while so suspended, and shall notify the licensee in writing of such revocation or suspension and may publish a notice of such revocation or suspension in such manner as he may deem necessary for the protection of the public.

353(6)Subject to section 361 a broker shall not be presumed to be the agent of the insurer or the agent of the insured by reason of the issue to him of a licence under this section.