New South Wales Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]


Conditions of licences

181 Conditions of licences

(cf former ss 27 (1) and 29C)

(1) A licence granted to an insurer 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 vary any conditions 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 shall comply with any condition to which the licence is subject.
: Maximum penalty--100 penalty units.

AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback