PRIVATE HEALTH INSURANCE ACT 2007 - SECT 84.5 Offence: directors and chief executive officers liable if systems not in place to prevent breaches

Commonwealth Consolidated Acts

Offence: directors and chief executive officers liable if systems not in place to prevent breaches

A person commits an offence if:

(a) the person is a * director or * chief executive officer of a private health insurer; and

(b) the insurer commits an offence under section 84‑1; and

(c) the person failed to exercise due diligence to ensure that adequate systems were in place to prevent the insurer from committing the offence.

Penalty: 1,000 penalty units or imprisonment for 5 years, or both.