New South Wales Consolidated Acts

STRATA SCHEMES MANAGEMENT ACT 2015 - SECT 211AD

211AD Directions to decennial insurers to provide information

(1) The Secretary may, by written order, direct a person who has issued a DLI policy to give the Secretary the following information, as specified in the direction--

(a) the number, terms and premiums payable of DLI policies issued by the person,

(b) the names of developers to whom DLI policies have been issued,

(c) the buildings covered by DLI policies,

(d) the number and value of claims made under DLI policies,

(e) circumstances where a developer has failed to meet a term or condition of a DLI policy, including specific details about the developer and the term or condition not met,

(f) other information prescribed by the regulations.

(2) To avoid doubt, a direction under this section may--

(a) apply generally or specifically, and

(b) require information to be given on the occurrence of a specified event or at regular specified times, and

(c) specify the way and time within which the information must be given.

(3) A person must comply with a direction under this section.

: Maximum penalty--

(a) 500 penalty units, and

(b) for a continuing offence--200 penalty units for each day the offence continues.