39Referral of amount to Chief Commissioner for debt recovery actions

39 Referral of amount to Chief Commissioner for debt recovery actions

39 Referral of amount to Chief Commissioner for debt recovery actions

(1) The Monitor may refer an over-collection amount to the Chief Commissioner for debt recovery action if the insurance company liable for the over-collection amount fails to give the Monitor a refund undertaking in relation to the amount, in terms that are acceptable to the Monitor, by the deadline for giving the refund undertaking.

(2) The referral must be made by written notice to the Chief Commissioner in a form approved by the Chief Commissioner.

(3) The notice must specify the over-collection amount.

(4) The Monitor must give the Chief Commissioner—

(a) a copy of the notice of assessment in relation to the insurance company, and

(b) other information in relation to the referral that the Chief Commissioner reasonably requires to exercise the Chief Commissioner’s functions under this part.