Supply of copy of credit‑related insurance contract by insurer
146 Supply of copy of credit‑related insurance contract by insurer
If the premium under a credit‑related insurance contract is financed under the credit contract, the insurer must ensure that a copy of the policy of insurance is given to the debtor within 14 days after acceptance of the insurance proposal by the insurer.
Criminal penalty: 100 penalty units.
In the case of any such contract of insurance entered into by the credit provider in which the debtor has a beneficial interest, the credit provider must ensure that a written notice containing particulars of the insurance prescribed by the regulations is given to the debtor within 14 days after the beneficial interest is acquired by the debtor.
Criminal penalty: 100 penalty units.
Subsections (1) and (2) do not apply to compulsory insurance.
Subsections (1) and (2) are offences of strict liability.
For strict liability, see section 6.1 of the Criminal Code.
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