Document ID: chunk:federal_register_of_legislation:C2023C00421:section:11
Version: federal_register_of_legislation:C2023C00421
Segment Type: section
Provision Reference: s 11
Character Range: 23387–24684

11  Intermediary's responsibilities
 (1) A person (the intermediary) commits an offence if:
 (a) the intermediary provides a financial service on or after 1 July 2003; and
 (b) in the course of providing that service, the intermediary:
 (i) arranges, or offers to arrange, for someone to enter into or renew; or
 (ii) recommends that someone enter into or renew;
  an arrangement under which a person (the cover provider) provides, or would provide, medical indemnity cover for a health care professional; and
 (c) either:
 (i) the cover provider is a constitutional corporation; or
 (ii) the arrangement has, or would have, a relevant constitutional connection; and
 (d) either:
 (i) the cover provider is neither a general insurer nor a Lloyd's underwriter; or
 (ii) the arrangement is not, or would not be, effected by means of a contract of insurance.
Penalty: Imprisonment for 12 months.
 (2) It does not matter whether the intermediary provides the financial service in the intermediary's own right or as a representative of another person.
 (3) To avoid doubt, the intermediary commits the offence whether or not the cover provider commits, or would commit, an offence against subsection 10(2).

Part 3—Product standards for medical indemnity insurance contracts

Division 1—Minimum cover