Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019 (17 of 2019)
Schedule 4 Amendment of the Insurance Contracts Act 1984
Part 1 Amendments
Insurance Contracts Act 1984
2 After subsection 13(2)
Insert:
(2A) An insurer under a contract of insurance contravenes this subsection if the insurer fails to comply with the provision implied in the contract by subsection (1).
Civil penalty: 5,000 penalty units.
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