New South Wales Consolidated Acts

MOTOR ACCIDENT INJURIES ACT 2017 - SECT 9.10

9.10 Imposition of civil penalty on or censure of licensed insurer

(cf s 166 MACA)

(1) If the Authority is satisfied that a licensed insurer has contravened its licence or this Act or the regulations or the Insurance Industry Deed, the Authority may, instead of, or in addition to, suspending the insurer's licence--

(a) impose a civil penalty on the insurer not exceeding $110,000, or

(b) issue a letter of censure to the insurer.

(2) Before imposing a civil penalty, the Authority must give the licensed insurer a reasonable opportunity to make submissions in relation to the alleged contravention.

(4) A civil penalty that has been imposed under this section may be recovered by the Authority in a court of competent jurisdiction as a debt due to the Authority.

(5) A civil penalty that is paid or recovered is payable into the Motor Accidents Operational Fund.