154IAuthority’s functions extended to scheme agents

154I Authority’s functions extended to scheme agents

154I Authority’s functions extended to scheme agents

Subject to this Act, any function conferred on the Authority with respect to licensed insurers (or insurers generally) by or under a provision of this Act, the 1998 Act or the regulations under either Act may be exercised in relation to scheme agents, and for that purpose—

(a) a reference to a licensed insurer or insurer in a provision conferring such a function is to be read as including a reference to a scheme agent, and

(b) a reference to the conditions of a licence of a licensed insurer is to be read as including a reference to the conditions of a scheme agent’s agency arrangement with the Nominal Insurer.

ss 154H–154L: Ins 2003 No 81, Sch 1 [2].