Commonwealth Consolidated Acts Commonwealth Consolidated ActsRequirement made of general insurer--civil penalty
(1) A general insurer must comply with a requirement made of it under section 62ZZO or subsection 62ZZP(1).
Civil penalty: 10,000 penalty units.
Requirement made of general insurer--offence
(2) A general insurer commits an offence if:
(a) it does, or fails to do, an act; and
(b) the doing of the act, or the failure to do the act, results in a contravention of a requirement made of the general insurer under section 62ZZO or subsection 62ZZP(1).
(3) An offence against subsection (2) is an indictable offence.
Note: Section 4K (Continuing and multiple offences) of the Crimes Act 1914 applies to an offence against subsection (2), so a general insurer commits an offence for each day it does not comply with a requirement under subsection 62ZZP(1) (to give information within a particular time).
Requirement made of general insurer--offence by officer
(4) An officer (as defined in section 9 of the Corporations Act 2001 ) of a general insurer commits an offence if:
(a) the officer fails to take reasonable steps to ensure that the general insurer complies with a requirement made of it under section 62ZZO or subsection 62ZZP(1); and
(b) the officer's duties include ensuring that the general insurer complies with the requirement.
(5) Subsection (4) does not apply to an officer who is a liquidator of the general insurer.
Note: A defendant bears an evidential burden in relation to the matter in subsection (5): see subsection 13.3(3) of the Criminal Code .
(6) If an officer of a general insurer fails to take reasonable steps to ensure that the general insurer complies with a requirement made of it under subsection 62ZZP(1) in circumstances that give rise to the officer committing an offence against subsection (4) of this section, the officer commits an offence against that subsection in respect of:
(a) the first day on which the offence is committed; and
(b) each subsequent day (if any) on which the circumstances that gave rise to the officer committing the offence continue (including the day of conviction for any such offence or any later day).
Note: This subsection does not affect the application of section 4K of the Crimes Act 1914 to other offences against this Act (including subsection (2)) or the regulations.
Liquidator to comply with requirement made of liquidator
(7) A liquidator must comply with a requirement made of the liquidator under section 62ZZO or subsection 62ZZP(1).
Note: Action may be taken under the Corporations Act 2001 against a liquidator who does not comply with such a requirement.
Requirement made of judicial manager of general insurer--civil penalty
(8) A judicial manager of a general insurer must comply with a requirement made of the judicial manager under section 62ZZO or subsection 62ZZP(1).
Civil penalty: 200 penalty units.
Requirement made of judicial manager of general insurer--offence
(9) A judicial manager of a general insurer commits an offence if:
(a) the judicial manager does, or refuses or fails to do, an act; and
(b) the doing of the act, or the failure to do the act, results in a contravention of a requirement made under section 62ZZO or subsection 62ZZP(1).
(10) An offence against subsection (9) is an indictable offence.
Note: Section 4K (Continuing and multiple offences) of the Crimes Act 1914 applies to an offence against subsection (9), so the judicial manager commits an offence for each day that the judicial manager does not comply with a requirement under subsection 62ZZP(1).
Requirement made of other person--civil penalty
(11) A person mentioned in paragraph 62ZZP(1)(e) must comply with a requirement made of the person under subsection 62ZZP(1).
Civil penalty: 200 penalty units.