13. Section 21 of the principal enactment is hereby repealed and the following section substituted therefor:
| 21.
| | (1) The Controller may from time to time fix and notify the maximum or minimum rates of premia, or both such rates, to be charged by insurers in respect of policies of insurance to be issued by them. | | |
| | (2) No insurer shall accept as premia under a contract or policy of insurance effected or issued by him in respect of any class of insurance, an amount which is
| | | (a) higher than the maximum rate fixed for that class of insurance under subsection (1) ; or |
| (b) lower than the minimum rate fixed for that class of insurance under subsection (1).". |
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Sri Lanka Consolidated Acts