Document ID: chunk:federal_register_of_legislation:C2025C00157:section:43a
Version: federal_register_of_legislation:C2025C00157
Segment Type: section
Provision Reference: s 43A
Character Range: 124888–127040

43A  Disqualified persons must not act as auditor or actuary of general insurer
 (1) A person commits an offence if:
 (a) the person is disqualified under section 44; and
 (b) the person is or acts as an auditor or actuary of a general insurer; and
 (c) the person is disqualified from being or acting as that auditor or actuary (as the case requires).
Penalty: Imprisonment for 2 years.
 (2) A person commits an offence if:
 (a) the person is disqualified under section 44; and
 (b) the person is or acts as an auditor or actuary of a general insurer; and
 (c) the person is disqualified from being or acting as that auditor or actuary (as the case requires).
Penalty: 60 penalty units.
 (3) Subsection (2) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.
 (4) A body corporate commits an offence if:
 (a) a person is disqualified under section 44; and
 (b) the person is or acts as an actuary or auditor of the body corporate; and
 (c) the person is disqualified from being or acting as that actuary or auditor (as the case requires); and
 (d) the body corporate allows the person to be or act as an actuary or auditor (as the case requires).
Penalty: 250 penalty units.
 (5) A body corporate commits an offence if:
 (a) a person is disqualified under section 44; and
 (b) the person is or acts as an actuary or auditor of the body corporate; and
 (c) the person is disqualified from being or acting as that actuary or auditor (as the case requires); and
 (d) the body corporate allows the person to be or act as an actuary or auditor (as the case requires).
Penalty: 60 penalty units.
 (6) Subsection (5) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.
 (7) A failure to comply with this section does not affect the validity of an appointment or transaction.
Note 1: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.
Note 2: 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.