New South Wales Consolidated Acts
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DUTIES ACT 1997 - SECT 251
Cessation of business and cancellation of registration by the insurer
251 Cessation of business and cancellation of registration by the insurer
(1) A registered insurer who ceases to write insurance business in New South
(a) give written notice of that fact to the Chief Commissioner,
(b) lodge the return required to be lodged under this Part, and
the duty payable in connection with the return on or before the twenty-first
day of the month after which the notice is given.
: Maximum penalty--100
Note : An offence against subsection (1) committed by a
corporation is an executive liability offence attracting executive liability
for a director or other person involved in the management of the
corporation--see section 121 of the Taxation Administration Act 1996 .
The notice cancels the insurer's registration under this Part on the day on
which it is received by the Chief Commissioner.
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