(1) The policy of insurance that an employer who is a member of a group obtains and maintains in force for the purposes of compliance with section 155 (a
"workers compensation insurance policy" ) must--(a) be obtained from or through the same scheme agent that provides workers compensation insurance policies to the other members of the group, and(b) have the same renewal date as those other policies.
(2) An employer who contravenes subsection (1) is guilty of an offence.: Maximum penalty--500 penalty units.
(3) If an employer who is a member of a group does not obtain or maintain in force a policy of insurance in compliance with this section, the Nominal Insurer may by notice in writing to a scheme agent--(a) direct the transfer of any policy of insurance obtained or maintained in contravention of this section to a specified scheme agent (being the scheme agent from or through whom workers compensation insurance is provided to other members of the group concerned), and(b) direct the alteration of the policy of insurance so that the policy renews on the same date as the policies of other members of the group.
(4) A scheme agent must give effect to a direction given to it under this section.