Commonwealth Numbered Acts

INSURANCE LAWS AMENDMENT ACT 1994 No. 48 of 1994 - SCHEDULE

SCHEDULE
FURTHER AMENDMENTS OF THE INSURANCE (AGENTS AND BROKERS) ACT 1984
1. Subsection 10(6): Omit the penalty, substitute:

"Penalty: Imprisonment for 6 months.".
2. Subsection 11(5): Omit the penalty, substitute:

"Penalty: 150 penalty units.".
3. Subsection 13(5): Omit the penalty, substitute:

"Penalty: Imprisonment for 2 years.".
4. Subsection 16(1): Omit the penalty, substitute:

"Penalty: 60 penalty units.".
5. Subsection 16(1A): Omit the penalty, substitute:

"Penalty: 60 penalty units.".
6. Subsection 17(1): Omit the penalty, substitute:

"Penalty: 60 penalty units.".
7. Subsection 19(1): Omit the penalty, substitute:

"Penalty: Imprisonment for 2 years.".
8. Subsection 20(3): Omit the penalty, substitute:

"Penalty: Imprisonment for 2 years.".
9. Subsection 25(4): Omit the penalty, substitute:

"Penalty: Imprisonment for 2 years.".
10. Subsection 25A(1): Omit the penalty, substitute:

"Penalty: 30 penalty units.".
11. Subsection 25B(1): Omit the penalty, substitute:

"Penalty: 30 penalty units.".
12. Subsection 26(11): Omit the penalty, substitute:

"Penalty: Imprisonment for 2 years.".
13. Subsection 27(12): Omit the penalty, substitute:

"Penalty: Imprisonment for 2 years.".
14. Subsection 29(5): Omit the penalty, substitute:

"Penalty: Imprisonment for 1 year.".
15. Subsection 30(3): Omit the penalty, substitute:

"Penalty: Imprisonment for 6 months.".
16. Subsection 31(2): Omit the penalty, substitute:

"Penalty: 60 penalty units.".
17. Subsection 31B(1): Omit the penalty, substitute:

"Penalty: Imprisonment for 2 years.".
18. Subsection 31C(4): Omit the penalty, substitute:

"Penalty: Imprisonment for 2 years.".
19. Subsection 31H(4): Omit the penalty, substitute:

"Penalty: Imprisonment for 2 years.".
20. Subsection 31J(1): Omit the penalty, substitute:

"Penalty: 30 penalty units.".
21. Subsection 31K(1): Omit the penalty, substitute:

"Penalty: A fine not exceeding 30 penalty units.".
22. Subsection 32(7): Omit the penalty, substitute:

"Penalty: 60 penalty units.".
23. Subsection 33(6): Omit the penalty, substitute:

"Penalty: Imprisonment for 2 years.".
24. Subsection 34(1): Omit the penalty, substitute:

"Penalty: Imprisonment for 2 years.".
25. Subsection 35(3): Omit the penalty, substitute:

"Penalty: Imprisonment for 1 year.".
26. Subsection 37(4): Omit the penalty, substitute:

"Penalty: Imprisonment for 2 years.".
27. Subsection 38(5): Omit the penalty, substitute:

"Penalty: 60 penalty units.".
28. Subsection 39(3): Omit the penalty, substitute:

"Penalty: Imprisonment for 6 months.".
29. Section 40: Omit "knowingly", substitute "intentionally or recklessly".
30. Section 40: Add at the end:

"(2) If a director of a company or an employee or agent of a corporation
intentionally or recklessly permits or authorises a contravention by the
company or corporation, the reference in subsection (1) to the penalty
provided in respect of the contravention is a reference to:

   (a)  the penalty that would apply to an individual in respect of the
        contravention; or

   (b)  if there is no penalty provided for an individual-a penalty not
        exceeding one-fifth of the penalty applying to the company or
        corporation in respect of that contravention.

"(3) If:

   (a)  a company or corporation is the agent of an individual; and

   (b)  a director of the company or an employee or agent of the corporation
        intentionally or recklessly permits or authorises a contravention of
        this Act by the company or corporation in its capacity as agent of the
        individual; then, despite subsection (1), the offence committed by the
        company or corporation as agent is punishable by a penalty not
        exceeding 5 times the penalty applying to the individual.".
31. Subsection 48(1): Omit "$500", substitute "10 penalty units".