Document ID: chunk:federal_register_of_legislation:C2004A03764:body:0:p8
Version: federal_register_of_legislation:C2004A03764
Segment Type: other
Provision Reference: 
Character Range: 18575–21288

carrying on business as a foreign insurance agent if the Commissioner has, by notice in writing to the person, required the person to comply, after such period as is specified in the notice, in relation to that business, with such of the provisions of this Act that are applicable to registered foreign insurance agents as are so specified and the person has failed to comply with any of those provisions as required by the notice.
"(4) The Commissioner may, by writing signed by the Commissioner, exempt a person to whom subsection (1) or (2) applies from the requirement to comply, in relation to carrying on business as a foreign insurance agent, with such provisions of this Act (not being provisions with which the person is required to comply in relation to the business concerned because of a notice under subsection (3)) as are specified in the instrument of exemption.

Suspension or cancellation of registration
"31h. (1) The Commissioner may suspend for such period as the Commissioner considers to be appropriate, or cancel, the registration of a person under this Part if the person, or a director, employee or agent of the person, has, whether before or after the registration took place and whether before or after the commencement of this Part, been convicted of an offence:
     (a) against or arising under this Act or any law, whether of the Commonwealth, of a State or Territory, or of some other country, in respect of conduct relating to insurance; or
     (b) in respect of dishonest conduct;
being an offence that, in the opinion of the Commissioner, renders the person unfit to carry on business as a foreign insurance agent.
"(2) While the registration of a person under this Part is suspended, the person shall be deemed not to be registered under this Part.
"(3) Notwithstanding subsection (2), a person whose registration is suspended may carry on such of the person's business as a foreign insurance agent as the Commissioner, by writing signed by the Commissioner, specifies, for such time and subject to such conditions (if any) as the Commissioner, by writing signed by the Commissioner, specifies.
"(4) A person shall not carry on business as a foreign insurance agent after the time specified under subsection (3) or fail to comply with a condition under that subsection that is applicable to the person.
Penalty:
     (a) in the case of a natural person—$5,000 or imprisonment for 2 years, or both; or
     (b) in the case of a corporation—$25,000.

"(5) Where the Commissioner cancels the registration of a person, the Commissioner may, by writing signed by the Commissioner, specify a period during which the person is to be disqualified from registration and, where a period