sch.4-sec.18Late fees

sch.4-sec.18 Late fees

If an insurer does not comply with an obligation imposed under the Act , a regulation or this deed within the relevant time limit, the commission may, by notice to the insurer, require the insurer to pay a fee for the delay in compliance. The fee must be based on costs to the commission resulting from the delay. The commission may, for good reason, remit a fee payable under subsection (1) . (sch.4-sec.18-ssec.1) If an insurer does not comply with an obligation imposed under the Act , a regulation or this deed within the relevant time limit, the commission may, by notice to the insurer, require the insurer to pay a fee for the delay in compliance. (sch.4-sec.18-ssec.2) The fee must be based on costs to the commission resulting from the delay. (sch.4-sec.18-ssec.3) The commission may, for good reason, remit a fee payable under subsection (1) .