Full legislation
s.32A
Requirement to provide reports
(1)
The Authority
may—
(a)
by a written notice served on an authorized insurer, require the insurer
to, within the time specified in the notice, provide the Authority with a report
in respect of any matter that relates to the insurer; or
(b)
appoint a person to provide the Authority with a report in respect of any
matter that relates to an authorized insurer.
(2)
The Authority may, in a notice under subsection
(1
)(
a)
,
specify—
(a)
the form in which the report is to be prepared (including any verification
or certification that may be required);
(b)
the way by which the report is to be provided; and
(c)
the skills that are to be possessed by the person who prepares the
report.
(3)
The Authority may appoint under subsection
(1
)(
b)
any person who
appears to the Authority to possess the skills necessary for providing a report in
respect of the matter concerned.
(4)
If a person is appointed under subsection
(1
)(
b)
, the
Authority—
(a)
must, by a written notice served on the authorized insurer, notify the
insurer of the appointment; and
(b)
may, in the notice, require the insurer to provide the person with any
assistance as reasonably required by the person.
(5)
An authorized insurer
must—
(a)
pay to a person appointed under subsection
(1
)(
b)
any fees
reasonably charged by the person for providing the report; and
(b)
reimburse the Authority
for—
(i)
any such fees paid by the Authority; and
(ii)
any incidental expenses incurred by the Authority in procuring the
provision of the report.
(6)
Any fees and expenses required to be paid or reimbursed under subsection (5)
are recoverable as a civil debt.