Document ID: chunk:federal_register_of_legislation:C2005C00502:clause:1_14
Version: federal_register_of_legislation:C2005C00502
Segment Type: clause
Provision Reference: sch 1 cl 14
Character Range: 13162–14067

14  Breach of authorisation conditions

 (1) A general insurer commits an offence if:
 (a) the insurer does an act or fails to do an act; and
 (b) doing the act or failing to do the act results in a contravention of a condition of the insurer's authorisation under section 12; and
 (c) there is no determination in force under subsection 7(1) that this subsection does not apply to the insurer.

Maximum penalty: 60 penalty units.

 (2) 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.

Note 3: 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.

Division 3—Revocation of an authorisation