Australian Capital Territory Numbered Acts

ROAD TRANSPORT (THIRD-PARTY INSURANCE) ACT 2008 (NO. 1 OF 2008) - SECT 235

A person commits an offence if—

        (a)     the person is a licensed insurer; and

        (b)     there is, or is to be, a decrease in the issued capital of the insurer; and

        (c)     the person does not tell the CTP regulator about the decrease or proposed decrease, in writing, within 21 days after the decrease or proposal.

Maximum penalty: 100 penalty units.

Note     Penalties imposed under this Act must be paid into the nominal defendant fund (see s 66).