"3 IB. No insurer shall in respect of insurance business Power to transacted by him, shall pay to any person by way of res tr ic t remuneration, whether by way of commission or otherwise in p ^ .
excess of such sum as may be specified by the regulations." . remuneration.
33. Section 32 of the Insurance Act shall be omitted. Omission of section 32.
34. In section 32A of the Insurance Act,— Amendment of section 32A (/) in sub-section (I), the words, brackets, letter and figures "specified in sub-clause (b) of clause (9) of section 2 and," shall be omitted;
(ii) sub-sections (2) and (3) shall be omitted.
35. In section 32B of the Insurance Act, for the words "rural Amendment or social sector", the words "rural and social sectors" shall be °^ e c t I 0 n substituted.