s 356
In forceOffences—unlicensed insurer issues MAI policy
Chapter 7MAI insurer licences
Part 7.1MAI insurer licences—preliminary
356 Offences—unlicensed insurer issues MAI policy
(1)
A person commits an offence if the person—
(a)
issues an MAI policy; and
(b)
is not a licensed insurer.
Maximum penalty: 100 penalty units.
(2)
A person commits an offence if the person—
(a)
purports to issue an MAI policy; and
(b)
is not a licensed insurer.
Maximum penalty: 100 penalty units.
Note Penalties imposed under this Act must be paid into the nominal defendant fund (see s 330).
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