Page 117 - Week 01 - Tuesday, 12 February 2008

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• suspension of the CTP insurer licence (see s 187)

• the CTP regulator to apply to the consumer and trader tribunal for the tribunal to take disciplinary action against the licensed insurer under the Consumer and Trader Tribunal Act 2003 (see this Act, pt 4.3A).

However, if a licensed insurer is convicted of an offence under this section, the consumer and trader tribunal must not order the licensed insurer to pay an amount to the Territory or someone else in relation to the same act or omission (see s 193B (3)).

Clause 187 (2), proposed new note 2

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Note 2 The grounds in s (1) are also grounds for the CTP regulator to apply to the consumer and trader tribunal for the tribunal to take disciplinary action against the licensed insurer under the Consumer and Trader Tribunal Act 2003 (see this Act, pt 4.3A).

Clause 191 to clause 193

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Part 4.3A Disciplinary action

191 Meaning of licensed insurer— pt 4.3A

In this part:

licensed insurer includes a former licensed insurer.

192 CTP regulator may choose disciplinary action instead of prosecution

In regulating the operation of licensed insurers, the CTP regulator may, but need not, choose to apply to the consumer and trader tribunal for the tribunal to take disciplinary action against licensed insurers rather than pursuing a prosecution under this Act if the CTP insurer believes on reasonable grounds it would be in the public interest to do so.

Note The CTP regulator may apply to the consumer and trader tribunal under s 193A.

193 What are the grounds for disciplinary action?

(1) Each of the following is a ground for disciplinary action in relation to a licensed insurer:

(a) the licensed insurer has contravened this Act;

(b) the licensed insurer has contravened a condition of the insurer’s CTP insurer licence;

(d) the licensed insurer has contravened, or is contravening, an order of the consumer and trader tribunal;

(e) the licensed insurer’s licence was obtained by fraud or mistake;

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