39Misdescription by insurance intermediaries

39 Misdescription by insurance intermediaries

(1) An insurance intermediary other than a registered insurance broker must not describe the intermediary or the intermediary’s business in a way that would be likely to lead a person into believing that the intermediary is an insurance broker. (2) An insurance intermediary must not describe the intermediary or the intermediary’s business in a way that would be likely to mislead a person into believing that the intermediary is an insurer. (3) This section has effect only after the expiration of 6 months after the commencement of Part III or, in an external Territory to which this Act extends, only after the expiration of 6 months after the commencement of the day on which this Act commences to extend to that Territory or the commencement of Part III, whichever is the later.

Penalty: Imprisonment for 6 months.

Note: Subsection 4B(2) of the Crimes Act 1914 allows a court to impose an appropriate fine instead of, or in addition to, a term of imprisonment. If a body corporate is convicted of an offence, subsection 4B(3) of that Act allows a court to impose a fine of an amount that is not greater than 5 times the maximum fine that could be imposed by a court on an individual convicted of the same offence.