Document ID: chunk:federal_register_of_legislation:C2010C00544:clause:1_187:p2
Version: federal_register_of_legislation:C2010C00544
Segment Type: clause
Provision Reference: sch 1 cl 187 (pt 2/2)
Character Range: 97105–98801

or subsidiary;
 (e) any matters prescribed by the regulations for the purposes of this paragraph.

Offences in relation to matters requiring notice as soon as practicable

 (8) A person commits an offence if the person contravenes subsection (6).

Penalty: Imprisonment for 6 months, or 100 penalty units, or both.

 (9) A person commits an offence if the person contravenes subsection (6). This is an offence of strict liability.

Penalty: 60 penalty units.

Note: For strict liability, see section 6.1 of the Criminal Code.

Defence if failure already notified

 (10) Subsections (8) and (9) do not apply to a person in relation to a failure to comply referred to in subsection (6) if:
 (a) a director or senior manager of the insurer, NOHC or subsidiary informs the person that the insurer, NOHC or subsidiary has informed APRA in writing of the failure; and
 (b) the person has no reason to disbelieve the director or senior manager.

Note: The defendant bears an evidential burden in relation to the matters in subsection (10). See subsection 13.3(3) of the Criminal Code.

Offence in relation to subsections (5) and (10)

 (11) A person commits an offence if:
 (a) the person is a director or senior manager of a general insurer, an authorised NOHC or a subsidiary of a general insurer or authorised NOHC; and
 (b) the person knows that there are reasonable grounds for believing a thing referred to in subsection (2) or (6); and
 (c) the person informs the auditor or actuary of the insurer, NOHC or subsidiary that the insurer, NOHC or subsidiary has informed APRA in writing of the thing; and
 (d) the insurer, NOHC or subsidiary has not done so.

Penalty: Imprisonment for 12 months.