s 379
In forceOffence—contravening licence condition
Chapter 7MAI insurer licences
Part 7.4MAI insurer licences—conditions
379 Offence—contravening licence condition
(1)
A person commits an offence if the person—
(a)
is a licensed insurer; and
(b)
contravenes a condition of the person’s MAI insurer licence.
Maximum penalty: 200 penalty units.
(2)
This section does not apply to a condition mentioned in section 378.
Note 1 Contravention of a licence condition is also a ground for the following:
(a)
suspension of the MAI insurer licence (see s 383);
(b)
the MAI commission to apply to the ACAT for an occupational discipline order in relation to the licensed insurer (see pt 7.6).
Note 2 Penalties imposed under this Act must be paid into the nominal defendant fund (see s 330).
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