Queensland Consolidated Acts
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MOTOR ACCIDENT INSURANCE ACT 1994 - SECT 72
Information to be provided by insurers
72 Information to be provided by insurers
(1) A licensed insurer must immediately inform the commission if—
insurer or a related body corporate fails to make a payment of principal or
interest required under any debenture or security issued by the insurer or the
related body corporate; or
(b) a liquidator, receiver or receiver and manager
of property of the insurer or a related body corporate is appointed; or
the insurer or a related body corporate resolves to be wound up; or
another event happens of a nature prescribed by regulation.
commission may require a licensed insurer—
(a) to disclose to the
commission, within the time allowed by the commission, specified information
about the business or the financial position of the insurer or a related body
(b) to give to the commission, within the time allowed by the
commission, copies of specified documents.
(3) A requirement under
subsection (2) must be made in writing and must state the time within which
the requirement must be complied with.
(4) If a requirement under
subsection (2) is not complied with, the insurer commits an offence.
Maximum penalty—300 penalty units.
(5) In this section—
"licensed insurer" includes a body corporate formerly licensed under this Act.
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