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MOTOR ACCIDENT INSURANCE ACT 1994 - SECT 71
Audit of accounts
71 Audit of accounts
(1) The commission may appoint an appropriately qualified person— (a) to
inspect or audit, and report to the commission on, the accounting and other
records about the business, or the financial position, of a licensed insurer;
or
(b) to carry out an actuarial investigation into, and report to the
commission on, the assets and liabilities, or any class of assets or
liabilities, of a licensed insurer.
(2) The appointed person may inspect the
accounting and other records of the licensed insurer.
(3) The licensed
insurer must provide all reasonable help to assist the inspection, audit or
actuarial investigation.
(4) A person must not wilfully delay or obstruct a
person exercising powers under this section. Penalty— Maximum
penalty—150 penalty units or imprisonment for 1 year.
(5) A statement
made orally or in writing by a person exercising powers under this section is
protected by qualified privilege.
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