103EBFalse or misleading conduct by insurers and insurance intermediaries

#### 103EB False or misleading conduct by insurers and insurance intermediaries 103EB False or misleading conduct by insurers and insurance intermediaries > > (1) In this section— > > > > insurance intermediary means— > > > > > (a) a person who arranges contracts of insurance in New South Wales— > > > > > > > (i) for reward, or > > > > > > > (ii) as an agent for a person carrying on a business of insurance, or > > > > > (b) a financial services licensee (as defined in section 761A of the [Corporations Act 2001](http://www.legislation.gov.au/) of the Commonwealth) whose licence covers arranging contracts of insurance as an agent for a person carrying on a business of insurance, or > > > > > (c) a regulated principal (as defined in section 1430 of the [Corporations Act 2001](http://www.legislation.gov.au/) of the Commonwealth) when carrying on business as an insurance broker as authorised by Subdivision D of Division 1 of Part 10.2 of that Act. > > > > insurer means a person who carries on insurance business as defined in the [Insurance Act 1973](http://www.legislation.gov.au/) of the Commonwealth. > > > (2) An insurer or insurance intermediary must not make a representation with respect to any insurance (whether by means of an advertisement or otherwise) that could reasonably be expected to cause a person to believe that the insurance meets the requirements of this Act, unless the insurance meets those requirements. > > > (3) An insurer or insurance intermediary who contravenes this section is guilty of an offence. > > > > Maximum penalty—200 penalty units. > > **s 103EB:** Ins 2017 No 28, Sch 1 \[45\].