93Action other than cancellation of self-insurer licence—

93 Action other than cancellation of self-insurer licence— Act, s 223 (2) (h) (1) This section applies to a self-insurer if— (a) the self-insurer— (i) contravenes the Act, section 112 (Compliance by insurers, including DI fund) or another provision of the Act; or (ii) is unable to meet the self-insurer’s existing and expected liabilities under the Act; or (iii) no longer has unlimited reinsurance for a single event to cover the self-insurer’s expected liability under the Act; or (iv) does not have the guarantee from an authorised deposit-taking institution mentioned in section 84A (1) (f); or (v) fails to comply with a condition on the self-insurer licence; and (b) the regulator has given the self-insurer notice under section 92. Action against licensed self-insurers Division 10.3 Section 94 (2) After considering any written representation made by the licensed self-insurer within the period for representations stated in the notice, the regulator may— (a) do 1 or more of the following: (i) order the licensed self-insurer to pay to the Territory a financial penalty of not more than $1 000; (ii) impose a condition on the self-insurer licence (for example, by including of a condition providing for increased supervision of the licensed self-insurer by the regulator); (iii) censure the self-insurer; (iv) order the self-insurer to take remedial action; or (b) suspend the self-insurer licence for not longer than the period. (3) The regulator must tell the licensed self-insurer, in writing, about the decision— (a) if the decision is to take action other than suspension—by giving the licensed self-insurer a reviewable decision notice; or (b) if the decision is to suspend the self-insurer’s self-insurer licence—in accordance with section 95.