New South Wales Consolidated Acts
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HOME BUILDING ACT 1989 - SECT 105A
Offence--unlicensed insurers and providers
105A Offence--unlicensed insurers and providers
(1) A person must not enter into a contract of insurance to provide insurance
under Part 6 unless the person is a licensed insurer. : Maximum penalty--1,000
penalty units.
(2) A person must not enter into a contract or arrangement to
provide cover by means of an alternative indemnity product unless the person
is a licensed provider. : Maximum penalty--1,000 penalty units.
(3) If a
person contravenes this section, or any condition to which a licence under
this Part is subject, the building cover contract remains a valid contract or
arrangement and the contravention does not annul or affect the building cover
contract or affect the liability of the insurer or provider to the person
covered under the building cover contract.
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