commission payable definition
commission payable means, in relation to a financial year of an insurer, the amounts, whether or not paid during that year, which are recorded during that year as due to intermediaries and cedants in respect of the inception, amendment or renewal of contracts of insurance;
commission payable means the amounts recorded during a financial year of the authorised company as due to intermediaries and cedants in respect of the inception, amendment or renewal of contracts of insurance, whether or not paid during that year.