Document ID: chunk:federal_register_of_legislation:C2024C00826:clause:1_146
Version: federal_register_of_legislation:C2024C00826
Segment Type: clause
Provision Reference: sch 1 cl 146
Character Range: 958640–959593

146  Supply of copy of credit‑related insurance contract by insurer
 (1) If the premium under a credit‑related insurance contract is financed under the credit contract, the insurer must ensure that a copy of the policy of insurance is given to the debtor within 14 days after acceptance of the insurance proposal by the insurer.
Criminal penalty: 100 penalty units.
 (2) In the case of any such contract of insurance entered into by the credit provider in which the debtor has a beneficial interest, the credit provider must ensure that a written notice containing particulars of the insurance prescribed by the regulations is given to the debtor within 14 days after the beneficial interest is acquired by the debtor.
Criminal penalty: 100 penalty units.
 (3) Subsections (1) and (2) do not apply to compulsory insurance.
 (4) Subsections (1) and (2) are offences of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.