"(e) Unless subject to registration under  Section  294  or unless acquisition of its control is  subject to paragraphs  (&)  and (bi hereof, every  . authorized insurer shall notify the Commissioner  III  wnting of the Identity of any person whom the  insurer then knows or has reason to believe controls  or has taken any action, other than preliminary  negDtiations or discussion, to acquire control of the  lllsurer.  "SEC. 303. (a) Notwithstanding the control of  an authorized insurer by any person, the officers and  directors ofthe insurer shall not thereby be relieved  of any obligation or liability to which they would  otherwise be subject by law, and the msurer shall be  managed so as to assure its separate operating  identity consistent with this title.  "Cb)  Nothing herein shall preclude an  a uthorized insurer from having or sharing a common  management or cooperative or joint use ofpersonnel,  property or services with one or more other persons  under arrangements meeting the standards of Section  298.  "SEC. 304. To the extent that any information  or material is set forth in forms or other matter on  file with any government agency or ina registration  form filed with the Commissioner by another person  within the same holding company system, the  controlled insurer may comply with the’registration  or reporting requirements of this title by referring  in  its registration form or report to such other filed  matter and attaching a copy thereof certified by the  insurer as a true and complete copy, to such  registration form or report or, if such other filed  matter is on file with the Commissioner,  incorporating such matter by reference.  control complies with this title and may reqillre, as a  condition of approval of such acquisition or retention  of control, that all or any portion of such information  be disclosed to the insurer’s stockholders.  "SEC. 305. No holding company or controlled  person shall directly or indirectly or through another  person do or cause to be done for or in behalf of the  controlled insurer any act intended to affect the  insurance operations of the insurer which, if done by  the insurer, would violate any provision of this Code.  "SEC. 306. In addition to any other penalty  provided by law, the Commissioner may, upon the  willful failure of any person within a holcJi,.lg company  system to comply with this title or any regulation or  order prom ulgated hereunder:  "(a) Proceed under Title 14 or Title 15, Chapter  III of this Code with respect to insurer within the  holding company system; or  "Cb)  Revoke or refuse to renew the authority  to do business  in  this country of an insurer within  the holding company system or refuse to issue such  authority to any other insurer in the system; or  n(c)  Direct that, in addition to any other  penalty provided by law, such person forfeit to the  people of this country a . sum not less than Five  thousand pesos (p5,OOO.OO) for a first violation and  Twenty-five thousand pesos (P25,OOO.OO) for any  subsequent violation. An additional sum not less than  Twenty-five thousand pesos (P25,000.OO) shall be  imposed for each month during which any such  violation shall continue.  "SEC. 307. No insurance company doing  business in the Philippines, nor any agent thereof, shall  pay any commission or other compensation to any  person for services in obtaining insurance, unless such  person shall have first procured from the Commissioner  a license  to act as an insurance agent of such company  or as an insurance broker as hereinafter provided.  "TITLE  1  "INSURANCE AGENTS AND INSURANCE BROKERS  "CHAPTER IV  "SALES AGENCIES  AND  TECHNICAL SERVICES 