Insurance Act 1973

A person commits an offence if:

the person is disqualified under section 44; and

the person is or acts as an auditor or actuary of a general insurer; and

the person is disqualified from being or acting as that auditor or actuary (as the case requires).

A person commits an offence if:

the person is disqualified under section 44; and

the person is or acts as an auditor or actuary of a general insurer; and

the person is disqualified from being or acting as that auditor or actuary (as the case requires).

Subsection (2) is an offence of strict liability.

For strict liability, see section 6.1 of the Criminal Code.

A body corporate commits an offence if:

a person is disqualified under section 44; and

the person is or acts as an actuary or auditor of the body corporate; and

the person is disqualified from being or acting as that actuary or auditor (as the case requires); and

the body corporate allows the person to be or act as an actuary or auditor (as the case requires).

A body corporate commits an offence if:

a person is disqualified under section 44; and

the person is or acts as an actuary or auditor of the body corporate; and

the person is disqualified from being or acting as that actuary or auditor (as the case requires); and

the body corporate allows the person to be or act as an actuary or auditor (as the case requires).

Subsection (5) is an offence of strict liability.

For strict liability, see section 6.1 of the Criminal Code.

A failure to comply with this section does not affect the validity of an appointment or transaction.

Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

If a body corporate is convicted of an offence against this section, subsection 4B(3) of the Crimes Act 1914 allows a court to impose a fine of up to 5 times the penalty above.