385Licence suspension

385 Licence suspension (1) If the MAI commission believes on reasonable grounds that a ground for suspending a licensed insurer’s MAI insurer licence exists, the MAI commission may suspend the licence by giving the licensed insurer written notice of the suspension (a suspension notice). Note A decision by the MAI commission to suspend an MAI insurer licence is a reviewable decision (see ch 10 and sch 2). (2) The suspension notice must state— (a) that the licence is suspended on and from— (i) the day the insurer is given the notice; or (ii) if the suspension notice states a later date—the day stated in the notice; and (b) the ground for the suspension. Note Power given by a law to make a decision includes power to reverse or