Victorian Consolidated Legislation

Accident Compensation (WorkCover Insurance) Act 1993 - SECT 39

Information and records to be supplied by insurers

39. Information and records to be supplied by insurers



(1) The Authority may require a former authorised insurer-



   (a)  to disclose to the Authority specified information relating to the
        business and financial position of the former authorised insurer or of
        any corporation which is a related corporation; or

   (b)  to forward to the Authority, or make available for inspection,
        specified records, or copies or extracts from specified records, kept
        by the former authorised insurer or by any corporation which is a
        related corporation.

(2) A requirement under this section must-

   (a)  be made in writing and served on the former authorised insurer; and



   (b)  specify the manner in which and the time within which the requirement
        is to be complied with.

(3) The manner in which a requirement is to be complied with may include the
supply to the Authority of a certificate by a registered tax agent, a
registered company auditor or an actuary approved by the Authority as to the
correctness of any specified information or specified records or copies of or
extracts from specified records.

(4) Unless the former authorised insurer satisfies the court that it is not
within its power to comply with the requirement, an insurer who fails to
comply with the requirement is guilty of an offence and liable to a penalty
not exceeding 100 penalty units.



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