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Article (105): Penalty for Carrying Out Insurance Business without License

Without prejudice to any severer penalty set forth in any other law, any Person that breaches the prohibition set forth in Clauses (1), (2) and (4) of Article (41) or the provisions of Article (65) of this Decree- Law, shall be punished by imprisonment and a fine of not less than (AED 1,000,000) one million dirhams, or by one of these two punishments.