392Grounds for occupational discipline

392 Grounds for occupational discipline (1) Each of the following is a ground for occupational discipline in relation to a licensed insurer: (a) the licensed insurer has contravened this Act; (b) the licensed insurer has contravened a condition of the MAI insurer licence; (c) the licensed insurer has contravened the insurance industry deed; (d) the licensed insurer has contravened, or is contravening, an occupational discipline order; (e) the licensed insurer’s MAI insurer licence was obtained by fraud or mistake;

MAI insurer licences—occupational discipline Part 7.6 (f) another ground prescribed by regulation. (2) However, subsection (1) (a), (b) and (c) apply to a former licensed insurer only in relation to anything that happened while the person was licensed. Note The grounds in s (1) (a), (b) and (c) are also the grounds for licence suspension under s 383.