STAMP DUTIES ACT 1923 - SECT 33
STAMP DUTIES ACT 1923 - SECT 33
(1) An insurer who
carries on insurance business in the State must be registered under this
Division.
Maximum penalty: $10 000.
(2) An application for
registration under this Division must be made to the Commissioner in the
approved form.
(3) The Commissioner
must register an insurer who applies in the approved form for registration
under this Division.
(4) A registered
insurer who is no longer required to be registered may cancel the registration
by notice to the Commissioner in the approved form.
(5) For the purposes
of this section, an insurer carries on insurance business in the State if the
insurer grants or issues in the State—
(a)
life insurance or personal accident insurance for a person whose principal
place of residence is in the State at the time that the policy providing the
insurance is issued; or
(b)
general insurance for an insurance risk within the State,
(whether the head office or principal place of business of the insurer is in
the State or elsewhere).