sec.64Conditions of licence

### sec.64 Conditions of licence A licence is subject to conditions prescribed by regulation. A licence may be granted subject to other conditions that the commission considers appropriate and specifies in the licence. The commission may, by written notice given to a licensed insurer— impose conditions or further conditions to which the licence is to be subject; or amend or repeal conditions previously imposed. A condition can not be imposed to give a particular advantage over other licensed insurers. A licensed insurer must not contravene a condition of the licence. Maximum penalty—300 penalty units. A court by which a licensed insurer is convicted of an offence against subsection (6) may, by order, withdraw the licence. s 64 amd 2000 No. 17 s 38 ; 2019 No. 36 s 13 (sec.64-ssec.1) A licence is subject to conditions prescribed by regulation. (sec.64-ssec.2) A licence may be granted subject to other conditions that the commission considers appropriate and specifies in the licence. (sec.64-ssec.4) The commission may, by written notice given to a licensed insurer— impose conditions or further conditions to which the licence is to be subject; or amend or repeal conditions previously imposed. (sec.64-ssec.5) A condition can not be imposed to give a particular advantage over other licensed insurers. (sec.64-ssec.6) A licensed insurer must not contravene a condition of the licence. Maximum penalty—300 penalty units. (sec.64-ssec.7) A court by which a licensed insurer is convicted of an offence against subsection (6) may, by order, withdraw the licence. - (a) impose conditions or further conditions to which the licence is to be subject; or - (b) amend or repeal conditions previously imposed.