New South Wales Consolidated Acts

DUTIES ACT 1997 - SECT 250

250 Cancellation of registration by the Chief Commissioner

(1) The Chief Commissioner may, by written notice, cancel an insurer's registration under this Part--

(a) if the insurer's authorisation under the Insurance Act 1973 of the Commonwealth is revoked, or

(b) if the insurer is made bankrupt or, being a company, is wound up, or

(c) if the insurer is convicted of an offence under an Act imposing duty, or

(d) if the insurer's registration was made in error or as a consequence of a false or misleading statement made in relation to the application for registration, or

(e) if the Chief Commissioner is of the opinion that the insurer has ceased to write general insurance in New South Wales, or

(f) if the insurer ceases to be a life company, or

(g) for any other reason the Chief Commissioner thinks sufficient.

(2) A cancellation of registration has effect from the date specified for the purpose by the Chief Commissioner in the notice of cancellation.