181Conditions of licences

#### 181 Conditions of licences 181 Conditions of licences (cf former ss 27 (1) and 29C) > > (1) A licence granted to an insurer under this Division 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 vary any conditions 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 shall comply with any condition to which the licence is subject. > > > > Maximum penalty—100 penalty units. > > > (5) (Repealed) > > **s 181:** Am 1993 No 47, Sch 1; 1994 No 10, Sch 4 (8).