37BTribunal powers—complaints under section 15A

#### 37B Tribunal powers—complaints under section 15A (1) For the purpose of reviewing the conduct of an insurer, or of a representative of an insurer, that is the subject of a complaint under section 15A concerning the sale of an annuity policy: (a) the Tribunal has all the powers, obligations and discretions that are conferred on the insurer; and (b) subject to subsection (4), must make a determination in accordance with subsection (2). (2) On reviewing the conduct of an insurer, or of a representative of an insurer that is the subject of a complaint under section 15A, the Tribunal must make a determination in writing, so far as concerns the annuity policy to which the complaint relates, either: (a) doing all or any of the following: (i) setting aside the whole or a part of the policy in its application to the complainant; (ii) varying the terms of the policy in their application to the complainant; (iii) requiring any party to the policy to repay all money or particular money received under the policy together with interest worked out in a manner prescribed in the regulations; or (b) declaring that, in all the circumstances of the case, action of a kind referred to in paragraph (a) is not appropriate. (3) The Tribunal may only exercise its determination‑making power under subsection (2) for the purpose of placing the complainant as nearly as practicable in such a position that the unfairness, unreasonableness, or both, that the Tribunal has determined to exist in relation to the conduct of the insurer, or of a representative of the insurer that is the subject of the complaint no longer exists. (4) The Tribunal must not make a determination under subsection (2) to take action of a kind referred to in paragraph (2)(a) in respect of a complaint under section 15A concerning the conduct of an insurer or of a representative of an insurer, if the Tribunal is of the view that the conduct of the insurer, or of the insurer’s representative, was fair and reasonable in all the circumstances.