145D
In forceIssue of insurer licence
Chapter 8Insurance
Part 8.1Insurance—general
Division 8.1.2Licences—insurers
145D Issue of insurer licence
(1)
If an insurer applies for an insurer licence, the regulator must, within a reasonable period—
(a)
issue the licence; or
(b)
refuse to issue the licence.
Note 1
A decision to refuse to issue a licence is a reviewable decision (see ch 12 and Workers Compensation Regulation 2002, sch 3, pt 3.1).
Note 2
A licence may be issued with a condition (see s 145E).
(2)
The regulator may issue the licence to the applicant, only if the regulator is satisfied that the applicant meets the criteria for issuing an insurer licence.
Note
A regulation may prescribe the criteria for issuing an insurer licence (see s 145J (b)).
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