Section 18
ORDERIn forceProvision 18 of 93
Section 18
(1)
In order to comply with the requirements of this Order, any insurance product or policy must be a product or policy which –
(a)
is approved by the Authority; or
(b)
is issued by an insurer and registered by the Authority.
(2)
Any person who fails to comply with subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000, and in the case of a continuing offence to a further fine not exceeding $1,000 for every day during which the offence continues after conviction.
Register of policies.