Document ID: chunk:federal_register_of_legislation:C2010C00224:clause:1_10:p1
Version: federal_register_of_legislation:C2010C00224
Segment Type: clause
Provision Reference: sch 1 cl 10 (pt 1/2)
Character Range: 22307–24900

10  Subsections 24(1) to (7)
Repeal the subsections, substitute:

 (1) A person commits an offence if:
 (a) the person is a disqualified person; and
 (b) the person is or acts as one of the following:
 (i) a director or senior manager of a general insurer (other than a foreign general insurer);
 (ii) a senior manager, or agent in Australia for the purpose of section 118, of a foreign general insurer;
 (iii) a director or senior manager of an authorised NOHC; and
 (c) for a person who is a disqualified person only because he or she was disqualified under section 25A—the person is disqualified from being or acting as that director, senior manager or agent in Australia (as the case requires).

Penalty: Imprisonment for 2 years.

 (2) A person commits an offence if:
 (a) the person is a disqualified person; and
 (b) the person is or acts as one of the following:
 (i) a director or senior manager of a general insurer (other than a foreign general insurer);
 (ii) a senior manager, or agent in Australia for the purpose of section 118, of a foreign general insurer;
 (iii) a director or senior manager of an authorised NOHC; and
 (c) for a person who is a disqualified person only because he or she was disqualified under section 25A—the person is disqualified from being or acting as that director, senior manager or agent in Australia (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 a disqualified person; and
 (b) the person is or acts as one of the following:
 (i) if the body corporate is a general insurer (other than a foreign general insurer)—a director or senior manager of the insurer;
 (ii) if the body corporate is a foreign general insurer—a senior manager, or agent in Australia for the purpose of section 118, of the insurer;
 (iii) if the body corporate is an authorised NOHC—a director or senior manager of the NOHC; and
 (c) for a person who is a disqualified person only because he or she was disqualified under section 25A—the person is disqualified from being or acting as that director, senior manager or agent in Australia (as the case requires); and
 (d) in any case—the body corporate allows the person to be or act as a director, senior manager or agent in Australia (as the case requires).

Penalty: 250 penalty units.

 (5) A body corporate commits an offence if:
 (a) a person is a disqualified person; and
 (b) the person is or acts as one of the following:
 (i) if