394Occupational discipline orders

394 Occupational discipline orders (1) This section applies if the ACAT may make an occupational discipline order in relation to a licensed insurer. Note The ACT Civil and Administrative Tribunal Act 2008, s 65 sets out when the ACAT may make an occupational discipline order. (2) In addition to any other occupational discipline order that the ACAT may make, the ACAT may require the licensed insurer to pay an amount of not more than $100 000 to the Territory or someone else. Note The ACT Civil and Administrative Tribunal Act 2008, s 66 sets out other occupational discipline orders the ACAT may make. (3) However, if a licensed insurer is convicted of an offence under section 379 (Offence—contravening licence condition) in relation to an act or omission, the ACAT must not make an occupational discipline order requiring the licensed insurer to pay an amount to the Territory or someone else in relation to the same act or omission.

(4) If the ACAT orders a licensed insurer to pay an amount, the amount must be paid into the nominal defendant fund.

Financial penalties Part 7.6A