Commonwealth Consolidated Acts

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Supervisory powers--liability of directors, employees and agents of insurers

             (1)  A person commits an offence if:

                     (a)  the person is:

                              (i)  a director of a company that is an insurer; or

                             (ii)  an employee or agent of an insurer; and

                     (b)  the person permits or authorises the insurer to engage in conduct; and

                     (c)  the conduct constitutes an offence (the insurer offence ) against subsection 11C(2) or 11D(2) or (3); and

                     (d)  the insurer commits the insurer offence.

Penalty:  150 penalty units.

             (2)  There is no fault element for the physical element described in paragraph (1)(d) other than the fault elements (if any) for the physical elements of the insurer offence.

             (3)  To avoid doubt:

                     (a)  an insurer does not commit the insurer offence, for the purposes of subsection (1), if the insurer has a defence to the insurer offence; and

                     (b)  a person may be convicted of an offence against subsection (1) even if the insurer concerned has not been prosecuted for, or convicted of, the insurer offence.

             (4)  In this section:

"conduct" means:

                     (a)  an act; or

                     (b)  an omission to perform an act.

"engage in conduct" means:

                     (a)  do an act; or

                     (b)  omit to perform an act.

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