(cf s 161 MACA)
(1) A licence granted under this Division is subject to--(a) such conditions as may be prescribed by this Act or the regulations, and(b) such conditions (not inconsistent with this Act or the regulations) as may be imposed by the Authority--(i) on the granting of the licence, or(ii) at any time during the currency of the licence.
(2) The Authority may, by notice served on a licensed insurer, impose conditions (or further conditions) to which the licence is to be subject or revoke or vary any condition imposed on the licence by the Authority.
(3) A condition to which a licence is subject has effect whether or not it is endorsed on the licence.
(4) A licensed insurer who contravenes, whether by act or omission, any condition to which the licence is subject is guilty of an offence.: Maximum penalty--1,000 penalty units.
(5) An insurer (not being a licensed insurer) who contravenes, whether by act or omission, any obligation imposed by this Act on the insurer in connection with a motor accident, being an obligation that is declared by this Act to be a condition of a licence under this Division, is guilty of an offence.: Maximum penalty--1,000 penalty units.
(6) A licensed insurer cannot be convicted of an offence under subsection (4) and required to pay civil penalty under section 9.10 in respect of the same act or omission.