Document ID: chunk:federal_register_of_legislation:C2004A02846:body:0:p13
Version: federal_register_of_legislation:C2004A02846
Segment Type: other
Provision Reference: 
Character Range: 30824–33631

a body corporate and shall, if so directed in writing by the Treasurer, make such reports as are specified in the direction; and
          (b) shall on a completion or termination of the investigation, report in writing to the Treasurer on the result of the investigation.";
     (b) by inserting after sub-section (4) the following sub-section:
    "(4a) The Commissioner shall forward to the Treasurer a copy of a report made to him under this section together with such report (if any) as he wishes to make in relation to the first-mentioned report.";
     (c) by inserting in sub-section (5), "or forwarded" after "made"; and
     (d) by omitting from sub-sections (6) and (7) "the report" (first occurring) and substituting "a report".
(2) The amendments made by sub-section (1) do not apply in relation to a report made under sub-section 60 (1) of the Principal Act before the commencement of this section.

Directions
28. Section 62 of the Principal Act is amended—
     (a) by inserting in sub-section (1) "give directions to the body corporate with respect to the carrying on of insurance business by the body

     corporate and, without limiting the generality of the directions that may be given, may" after "notice in writing served on the body corporate,";
     (b) by omitting from sub-section (2) "under" and substituting "of a direction of the kind referred to in";
     (c) by omitting sub-section (3) and substituting the following sub-section:
        "(3) Part VI applies to a decision of the Treasurer under this section.";
     (d) by inserting in sub-section (6) "a direction given under" after "contravention of;
     (e) by inserting in sub-section (7) "at any time" after "appears";
     (f) by inserting after sub-section (7) the following sub-section:
    "(7a) Where a body corporate to which a direction has been given under this section applies to the Treasurer, by notice in writing, for the direction to be revoked or varied, the Treasurer shall—
        (a) if it appears to him that the direction is no longer necessary or should be varied—revoke or vary the direction; or
        (b) in any other case—refuse to revoke or vary the direction,
    and shall serve on the body corporate notice in writing of his decision.";
     (g) by omitting sub-sections (9), (10) and (11) and substituting the following sub-sections:
    "(9) A body corporate that contravenes or fails to comply with a direction given to it under sub-section (1), being a direction of the kind referred to in paragraph (1) (a), (b), (c) or (d), is, in respect of each day during which it so contravenes or fails to comply with the direction (including the day of a conviction under this sub-section or any subsequent day), guilty of an offence punishable on conviction by a fine not exceeding $20,000.