Ownership of records
154K Ownership of records
Subject to the regulations, all records and other documents made and kept, or received and kept, by a scheme agent in the exercise of functions on behalf of the Nominal Insurer are the property of the Nominal Insurer.
The Nominal Insurer may give directions to a scheme agent with respect to possession, custody and control of, and the granting of access to, those records and other documents.
A scheme agent must comply with any such directions given by the Nominal Insurer to the scheme agent.
Maximum penalty—1,000 penalty units.
A reference in this section to a scheme agent includes a reference to a person who was formerly (but is no longer) a scheme agent.
This provision refers to the regulations (the regulations
). Made under this Act:
- Insurance Premiums Order (January–June) 2006 · Regulation
- Insurance Premiums Order (January–June) 2007 · Regulation
- Insurance Premiums Order (January–June) 2008 · Regulation
29 more instruments made under this Act are listed on the Act’s overview.
This Act’s bill:Explanatory memorandum
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