New South Wales Consolidated Acts New South Wales Consolidated Acts(cf former ss 27 (1) and 29C)
(1) A licence granted to an insurer under this Division is subject to--(a) such conditions as may be prescribed by this Act or the regulations, and(b) such conditions (not inconsistent with this Act or the regulations) as may be imposed by the Authority--(i) on the granting of the licence, or(ii) at any time during the currency of the licence.
(2) The Authority may, by notice served on a licensed insurer, impose conditions (or further conditions) to which the licence is to be subject or vary any conditions imposed on the licence by the Authority.
(3) A condition to which a licence is subject has effect whether or not it is endorsed on the licence.
(4) A licensed insurer shall comply with any condition to which the licence is subject.: Maximum penalty--100 penalty units.