Cancellation of registration by the Commissioner
187 Cancellation of registration by the Commissioner
S. 187(1) amended by No. 40/2014 s. 6(d)(i).
The Commissioner may, by written notice, cancel an insurer's registration under this Part—
S. 187(1)(a) substituted by No. 9/2002 s. 3(Sch. item 4.3), amended by No. 40/2014 s. 6(d)(ii).
if the insurer's authorisation under the Insurance Act 1973 of the Commonwealth is revoked or the insurer's registration under the Life Insurance Act 1995 of the Commonwealth is cancelled (as the case requires); or
if the insurer is made bankrupt or, being a company, is wound up; or
if the insurer is convicted of an offence under an Act imposing duty; or
if the insurer's registration was made in error or because of a false or misleading statement made in relation to the application for registration; or
if the Commissioner is of the opinion that the insurer has ceased to write general insurance; or
for any other reason the Commissioner thinks sufficient.
A cancellation of registration has effect from the date specified for the purpose by the Commissioner in the notice of cancellation.
S. 188 (Heading) inserted by No. 40/2014 s. 6(e).
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