Commonwealth Consolidated Acts

INSURANCE ACT 1973 - SECT 49L

  (1)   A general insurer must, in accordance with the prudential standards, lodge with APRA:

  (a)   a section   49J certificate relating to the yearly statutory accounts for each financial year of the insurer; and

  (aa)   the reports referred to in section   49J; and

  (b)   the reports referred to in section   49K.

Penalty:   300 penalty units.

  (1A)   If an individual:

  (a)   commits an offence against subsection   (1) because of Part   2.4 of the Criminal Code ; or

  (b)   commits an offence under Part   2.4 of the Criminal Code in relation to an offence against subsection   (1);

he or she is punishable, on conviction, by a fine not exceeding 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.