MOTOR ACCIDENTS COMPENSATION ACT 1999 - SECT 163 Matters not subject to conditions of licences

MOTOR ACCIDENTS COMPENSATION ACT 1999 - SECT 163

163 Matters not subject to conditions of licences

(cf s 105 (1A) and (5) MAA)

(1) A condition of a licence under this Part must not be prescribed by the regulations or imposed, revoked or varied by the Authority if this would give or be likely to give a competitive advantage to the licensed insurer over other licensed insurers.

(2) A condition of a licence under this Part that requires or has the effect of requiring a licensed insurer to obtain a share of the insurance market specified in or determined in accordance with the terms of the condition is of no effect.

(3) This section extends, in the case of a licence in force on the commencement of this Act, to conditions imposed or otherwise applicable before that commencement.

(4) This section has effect despite anything to the contrary in sections 161 and 162.