Commonwealth Numbered Acts

Insurance (Agents and Brokers) Act 1984 No. 75 of 1984 - SECT 34

34. (1) Where the proposed insurer, or one of the proposed insurers, under a
proposed contract of general insurance that is to be arranged or effected by
an insurance intermediary is an unauthorized foreign insurer, the insurance
intermediary shall-

   (a)  subject to paragraph (b), give notice to the intending insured before
        he arranges or effects the contract informing the intending insured
        that an unauthorized foreign insurer is proposed to be the insurer, or
        one of the insurers, under the contract; or

   (b)  if it is not practicable for him to comply with paragraph (a), give
        notice to the insured, as soon as is reasonably practicable after he
        has arranged or effected the contract, informing the insured that an
        unauthorized foreign insurer is the insurer, or one of the insurers,
        under the contract.

(2) A notice under sub-section (1) shall be in writing in accordance with such
form (if any) as is prescribed.
(3) In this section, ''unauthorized foreign insurer'' means an insurer who-

   (a)  does not have an authority under the Insurance Act 1973 to carry on
        insurance business;

   (b)  is not a person who, because of section 5 of that Act, is not required
        to have such an authority; and

   (c)  carries on insurance business outside Australia and the external
        Territories to which the Insurance Act 1973 extends.

(4) If a proposed contract of insurance is to be arranged or effected, or a
contract of insurance has been arranged or effected, by an insurance
intermediary through another insurance intermediary (including another
insurance intermediary who is an insurance broker), this section applies as if
the proposed contract were to be arranged or effected, or the contract of
insurance had been arranged or effected, as the case may be, by the
first-mentioned insurance intermediary otherwise than through the other
insurance intermediary.

Penalty:

   (a)  in the case of a natural person-$1,000 or imprisonment for 6 months,
        or both; or

   (b)  in the case of a corporation-$5,000.