33. Section 35X of the Insurance Act is amended —
by deleting the words “direct general insurance broker” in subsection (3) and substituting the words “direct insurance broker”;
by deleting the word “Any” in subsection (4) and substituting the words “Subject to subsection (5), any”; and
by inserting, immediately after subsection (4), the following subsection:
“(5) Any person who is registered or deemed to be registered under this section as a direct general insurance broker immediately before the date of commencement of the Insurance (Amendment) Act 2003 shall, as from that date, be deemed to be registered as a direct insurance broker under subsection (2).”.