17When registration is required

17 When registration is required

(1) A person other than a company registered under section 21 must not intentionally: (a) issue a life policy; or (b) undertake liability under a life policy. (2) Subsection (1) does not prohibit a person from: (a) acting as agent of a company registered under section 21; or (b) entering into, or undertaking liability under, a contract referred to in subsection (3) if the particular contract is not a contract of insurance. (3) Paragraph (2)(b) applies to the following contracts: (a) an investment account contract; (b) an investment‑linked contract. (4) If a declaration is in force under section 12A or 12B in relation to business carried on or proposed to be carried on by a company, the company must not intentionally carry on that business unless the company is registered under section 21.