Document ID: chunk:federal_register_of_legislation:C2005C00502:clause:1_49l
Version: federal_register_of_legislation:C2005C00502
Segment Type: clause
Provision Reference: sch 1 cl 49L
Character Range: 70888–71724

49L  Lodgment of auditor's certificate and actuary's reports

 (1) A general insurer must, in accordance with the prudential standards, lodge with APRA:
 (a) a section 49J certificate relating to the yearly statutory accounts for each financial year of the insurer; and
 (aa) the reports referred to in section 49J; and
 (b) the reports referred to in section 49K.

Maximum penalty: 60 penalty units.

 (2) Subsection (1) is an offence of strict liability.

Note 1: For strict liability, see section 6.1 of the Criminal Code.

Note 2: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

Note 3: If a body corporate is convicted of an offence against this section, subsection 4B(3) of the Crimes Act 1914 allows a court to impose a fine of up to 5 times the penalty above.

Division 5—Accounts