s 403

Licensed insurer to revise business plan

In force

A licensed insurer must revise the insurer’s business plan—

(a)

at least once each year; and

(b)

if the insurer’s MAI insurance business departs significantly from the business plan; and

(c)

if the MAI commission directs the insurer to revise the business plan.

Note It is a condition of an MAI insurer licence that the licensed insurer must comply with this section (see s 365).

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