Document ID: chunk:federal_register_of_legislation:C2004A04724:body:0:p30
Version: federal_register_of_legislation:C2004A04724
Segment Type: other
Provision Reference: 
Character Range: 74095–77010

46A of the Acts Interpretation Act 1901.

Insurance intermediaries taken to be associated because of prior conduct of personnel

"41B.(1) For the purposes of section 21 or 31D, an insurance intermediary (the 'subject intermediary') is taken to be an associated insurance intermediary in respect of another insurance intermediary (the 'failed intermediary') that has failed to discharge the ordinary obligations of an insurance intermediary if;

  (a) a director of the subject intermediary:

        (i) was a director, principal, employee or agent of the failed intermediary; and

        (ii) if the director of the subject intermediary was an employee or agent of the failed intermediary—was in a position of influence or control over the operations of the failed intermediary; or

  (b) the principal of the subject intermediary:

        (i) was a director, principal, employee or agent of the failed intermediary; and

        (ii) if the principal of the subject intermediary was an employee or agent of the failed intermediary—was in a position of influence or control over the operations of the failed intermediary; or

  (c) an employee of the subject intermediary:

        (i) was a director, principal, employee or agent of the failed intermediary; and

        (ii) is in a position of influence or control over the operations of the subject intermediary; and

        (iii) if the employee of the subject intermediary was an employee or agent of the failed intermediary—was in a position of influence or control over the operations of the failed intermediary; or

  (d) an agent of the subject intermediary:

        (i) was a director, principal, employee or agent of the failed intermediary; and

        (ii) is in a position of influence or control over the operations of the subject intermediary; and

        (iii) if the agent of the subject intermediary was an employee or agent of the failed intermediary—was in a position of influence or control over the operations of the failed intermediary.

  "(2) In subsection (1):

     (a) a reference to a principal of an insurance intermediary is a reference to the principal of an insurance intermediary that is not a corporation and includes a sole trader; and

     (b) a reference to an employee or agent of an insurance intermediary includes a reference to an employee or agent of an insurance intermediary that is not a corporation.".

Insertion of new section

  33. After section 46 of the Principal Act the following section is inserted:

Time for bringing proceedings

"46A.(1) Despite anything in any other Act, proceedings for the summary prosecution of an offence against this Act may be brought at any time within the period of 3 years after the commission of the offence.

"(2) If the Attorney-General consents in writing proceedings may be brought at any later time.".

Further amendments of the Principal Act

  34. The Principal