84‑1 Offence: advertising, offering or i84‑1 Offence: advertising, offering or insuring under non‑complying policies

84‑1 Offence: advertising, offering or insuring under non‑complying policies (1) A person commits an offence if: (a) the person: (i) advertises a *product; or (ii) offers a person insurance under a policy; or (iii) insures a person under a policy; or (iv) arranges for another person to do a thing mentioned in subparagraph (i), (ii) or (iii); and (b) the insurance under the policy, or under a policy in the product, is *health insurance business; and (c) the policy is not a *complying health insurance policy; and (d) the *health insurance business is not business of a kind specified in the Private Health Insurance (Complying Product) Rules as excluded from subsection 63‑1(1). Penalty: 1,000 penalty units or imprisonment for 5 years, or both. (2) In imposing a penalty on a private health insurer for an offence under subsection (1), the court: (a) must have regard to the possible impact of a penalty on the insurer’s capital adequacy, solvency and the level of premiums for its *complying health insurance products; and (b) must not impose a penalty if satisfied that doing so would adversely affect the insurer’s capital adequacy or solvency, or be likely to lead to an increase in premiums for its products.