(1) An insurer or an officer, employee or agent of an insurer or an insurance broker, or insurance salesman shall not directly or indirectly—
(a) make or attempt to make an agreement as to the premium to be paid for a policy other than as specified in the policy; or
(b) pay, allow or give or offer or agree to pay, allow or give a rebate of the whole or part of the premium stipulated by the policy or any other consideration or thing of value intended to be in the nature of a rebate of premium, to any person who is insured or is applying for insurance in respect of life, person or property in Saint Lucia.
(2) An insurer or any other person who contravenes subsection (1) commits an offence.