408
In forceOffence—licensed insurer to assist appointed auditor
Chapter 7MAI insurer licences
Part 7.9MAI insurer licences—supervision
408 Offence—licensed insurer to assist appointed auditor
A licensed insurer commits an offence if—
(a)
an appointed auditor is exercising a function under section 407 in relation to the insurer; and
(b)
the insurer does not provide all reasonable assistance requested by the auditor to allow the exercise of the function.
Maximum penalty: 100 penalty units.
Note
Penalties imposed under this Act must be paid into the nominal defendant fund (see s 330).
This Act’s bill:Explanatory statementSecond reading speech
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