THE GOVERNMENT
Decree No. 98/2013/ND-CP dated Aug 28, 2013 of the Government on penalties for administrative violations against the Law on Insurance and Lottery
Pursuant to the Law on Government Organization dated December 25, 2001;
Pursuant to the Law on Handling Administrative Violations dated June 20, 2012;
Pursuant to the Law on Insurance Business dated December 09, 2000 and the Law on amendments to the Law on Insurance Business dated November 24, 2010;
At the request of the Minister of Finance;
The Government issues a Decree on penalties for administrative violations against the law on insurance and lottery,
Chapter 1
GENERAL PROVISIONS
Article 1. Scope of regulation
1. This Decree defines the administrative violations, penalties, fine levels, remedial measures and the powers to impose penalties applied to specific cases of insurance and lottery business.
2. The penalties for administrative violations in other fields related to insurance and lottery shall be imposed in accordance with corresponding laws.
Article 2. Subjects of application
1. Vietnamese, foreign organizations and individuals that commit administrative violations against the Law on Insurance and Lottery specified in this Decree.
2. The persons entitled to impose penalties for administrative violations specified in this Decree.
Article 3. Forms of penalties
1. The primary forms of penalties for administrative violations against the Law on Insurance and Lottery include:
a) Warnings;
b) Fines.
On maximum fine incurred by an individual that commits administrative violations against the Law on Insurance and Lottery is 100,000,000 VND. The maximum fine incurred by an organization is 200,000,000 VND.
The fines for the administrative violations mentioned in this Decree are incurred by individuals, except for the cases in Article 13, Clause 4 Article 18, Article 21, Article 22, Clause 3 and Clause 4 Article 24, Article 34, Clause 1, Clause 2 and Clause 3 Article 36, Clause 2 Article 40, Clause 2 Article 41, Article 42, Article 43, Article 44, Article 45, Clause 3 Article 46, Article 48, Article 49, Article 50, and Clause 2 Article 51 of this Decree, in which the fines are only incurred by organizations.
The fine incurred by an organization is twice as much as the fine incurred by an individual for the same violation.
2. Additional penalties for administrative violations against the Law on Insurance and Lottery:
a) For insurance business:
Temporarily confiscating the Certificate of insurance agent;
Temporarily suspending part of the operation stated in the License for establishment and operation of the insurer, reinsurer, insurance brokers, and branches of foreign non-life insurers that is related to the direct violation in the license;
Suspending the operation of the insurance agent within a time limit;
Confiscating the exhibits and instruments used for committing administrative violations.
b) For lottery business:
Temporarily confiscating the Certificate eligibility to do lottery business;
Confiscating the exhibits and instruments used for committing administrative violations.
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