102Conditions of licences

### 102 Conditions of licences > > (1)  A licence is subject to such conditions as may be imposed by the Board – > > > > > > (a) on the granting of the licence; or > > > > > > > (b) at any time during the currency of the licence. > > > (2)  Without limiting the generality of [subsection (1)](#GS102@Gs1@EN) , a licence granted to a specialized insurer shall be subject to the condition that the specialized insurer shall insure only such classes of employers as are specified in the licence against the employers' liability to their workers under this Act. > > > (3)  The Board 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 Board and such conditions or variation shall, subject to [section 112](#GS112@EN) [(3)](#GS112@Gs3@EN) , take effect on such date as the Board specifies in the notice, being a date not less than 14 days after the service of the notice on the licensed insurer. > > > (4)  A condition to which a licence is subject has effect whether or not the condition is endorsed on the licence. > > > (5)  A licensed insurer who fails to comply with, or contravenes, any condition to which the licence is subject is guilty of an offence and is liable on summary conviction to a fine not exceeding 100 penalty units.