220Conditions of claims transfer agreement

#### 220 Conditions of claims transfer agreement 220 Conditions of claims transfer agreement > > (1) A claims transfer agreement is subject to the following conditions— > > > > > (a) such conditions as may be included in the agreement, > > > > > (b) such conditions as the Authority may from time to time notify to the claim agent during the currency of the agreement, > > > > > (c) any conditions prescribed by the regulations. > > > (2) A condition of a claims transfer agreement also operates as a condition of the insurer’s licence (or the insurer’s licence that the claim agent is deemed to hold in respect of a policy of insurance to which a transferred claim relates). > > > (3) A corporation that is a party to a claims transfer agreement must comply with any conditions to which the claims transfer agreement is subject. > > > > Maximum penalty—100 penalty units. > > **s 220:** Am 1993 No 47, Sch 1; 2000 No 44, Sch 12.1 \[12\]. Rep 2003 No 81, Sch 2 \[66\]. Ins 2012 No 53, Sch 9.1 \[5\].