New South Wales Consolidated Acts New South Wales Consolidated Acts(cf former ss 29-29C)
(1) The Authority may cancel or suspend a licence granted under this Division by notice served on the licensed insurer.
(2) The Authority may cancel or suspend a licence for any reason it thinks fit and is not required to give the reasons for its decision.
(3) Without affecting the generality of subsection (2), the Authority may cancel or suspend a licence for reasons that relate to the workers compensation system generally, whether or not the reasons relate to the efficiency and conduct of the licensed insurer.
(4) The Authority shall, as far as practicable, give a licensed insurer whose licence it proposes to cancel or suspend an opportunity to make representations on the matter.
(6) A licence surrendered by a licensed insurer is cancelled if and when the Authority approves of the surrender.