Commonwealth Consolidated Acts

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LIFE INSURANCE ACT 1995 - SECT 132

Requirement to produce records

  (1)   For the purposes of this Act, the Regulator may give a body corporate that is a life company or a registered NOHC a written notice requiring the body to produce to the Regulator or a specified authorised person, at a reasonable time and place specified in the notice, any records relating to the affairs of the body.

  (2)   The Regulator or the authorised person may inspect, take extracts from and make copies of any record produced under this section.

  (3)   A body corporate that is a life company or a registered NOHC must comply with a notice under this section.

  (4)   If:

  (a)   a requirement is made under subsection   (1); and

  (b)   the information that constitutes the records to which the requirement relates is stored, in whole or in part, by electronic means;

the body to which the requirement is directed does not comply with the requirement unless it produces all of the records in documentary form.



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