Document ID: chunk:federal_register_of_legislation:C2025C00157:section:2
Version: federal_register_of_legislation:C2025C00157
Segment Type: section
Provision Reference: s 2
Character Range: 99803–101080

2                                 A majority of the directors of the agent (excluding any director who is the subject of the direction)  by jointly signing a written notice.

 (5C) Subsections (5A), (5B) and (5BA) do not, by implication, limit any other powers of a general insurer, authorised NOHC or corporate agent to remove a person.
 (6) Part VI applies to a direction made by APRA under this section.
 (7) A general insurer, authorised NOHC or corporate agent commits an offence if:
 (a) the insurer, NOHC or agent does, or fails to do, an act; and
 (b) by doing or failing to do the act, the insurer, NOHC or agent fails to comply with a direction under this section.
Penalty: 300 penalty units.
 (7A) If an individual:
 (a) commits an offence against subsection (7) because of Part 2.4 of the Criminal Code; or
 (b) commits an offence under Part 2.4 of the Criminal Code in relation to an offence against subsection (7);
he or she is punishable, on conviction, by a fine not exceeding 60 penalty units.
 (8) An offence against this section 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.

Division 6—Other matters