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Trade association won&#39t charge broker fees after Treasury decision

The Insurance Brokers Registration Council has decided that fees will not be collected from individual insurance brokers for the period 1 January to 30 April 2001 in light of the Treasury&#39s decision to repeal the Insurance Brokers (Registration) Act 1977 from 30 April.

Practising insurance brokers will be exempt from fees, but not brokers that are limited liability companies, as their fee would not have been due until 1 May 2001.

The Treasury&#39s move is the start of the transfer to a non statutory administration for insurance brokers.

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