161Conditions of licences

#### 161 Conditions of licences 161 Conditions of licences (cf s 105 MAA) > > (1) A licence granted under this Part is subject to— > > > > > (a) such conditions as may be prescribed by this Act or the regulations, and > > > > > (b) such conditions (not inconsistent with this Act or the regulations) as may be imposed by the Authority— > > > > > > > (i) on the granting of the licence, or > > > > > > > (ii) at any time during the currency of the licence. > > > (2) The Authority may, by notice served on a licensed insurer, impose conditions (or further conditions) to which the licence is to be subject or revoke or vary any condition imposed on the licence by the Authority. > > > (3) A condition to which a licence is subject has effect whether or not it is endorsed on the licence. > > > (4) A licensed insurer who contravenes, whether by act or omission, any condition to which the licence is subject is guilty of an offence. > > > > Maximum penalty—100 penalty units. > > > (5) An insurer (not being a licensed insurer) who contravenes, whether by act or omission, any obligation imposed by this Act on the insurer in connection with a motor accident, being an obligation that is declared by this Act to be a condition of a licence under this Part, is guilty of an offence. > > > > Maximum penalty—100 penalty units. > > > (6) A licensed insurer cannot be convicted of an offence under subsection (4) and required to pay civil penalty under section 166 in respect of the same act or omission.