s 402
In forceLicensed insurer to comply with business plan
Chapter 7MAI insurer licences
Part 7.9MAI insurer licences—supervision
402 Licensed insurer to comply with business plan
(1)
A licensed insurer must carry out the insurer’s MAI insurance business in accordance with the insurer’s business plan.
(2)
If a licensed insurer carries out the insurer’s MAI insurance business in a way that departs significantly from the business plan, the insurer must tell the MAI commission.
Note It is a condition of an MAI insurer licence that the licensed insurer must comply with this section (see s 365).
Research tools for this sectionPro
The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.