Commonwealth Consolidated Acts

MEDICAL INDEMNITY (PRUDENTIAL SUPERVISION AND PRODUCT STANDARDS) ACT 2003 - SECT 11

  (1)   A person (the intermediary ) commits an offence if:

  (a)   the intermediary provides a financial service on or after 1   July 2003; and

  (b)   in the course of providing that service, the intermediary:

  (i)   arranges, or offers to arrange, for someone to enter into or renew; or

  (ii)   recommends that someone enter into or renew;

    an arrangement under which a person (the cover provider ) provides, or would provide, medical indemnity cover for a health care professional; and

  (c)   either:

  (i)   the cover provider is a constitutional corporation; or

  (ii)   the arrangement has, or would have, a relevant constitutional connection; and

  (d)   either:

  (i)   the cover provider is neither a general insurer nor a Lloyd's underwriter; or

  (ii)   the arrangement is not, or would not be, effected by means of a contract of insurance.

Penalty:   Imprisonment for 12 months.

  (2)   It does not matter whether the intermediary provides the financial service in the intermediary's own right or as a representative of another person.

  (3)   To avoid doubt, the intermediary commits the offence whether or not the cover provider commits, or would commit, an offence against subsection   10(2).