Insurance Act 1966 · 2020 Revised Edition · Part 4 · Miscellaneous and General
143. Penalties for corporations
Feedback & supportLast amended by an amending law of 2013. 2 amendments in all.
Subject to subsection (2), where a corporation is convicted of an offence under this Act, the penalty that the court may impose is a fine not exceeding 2 times the maximum amount that the court could, but for this subsection, impose as a fine for that offence.
corporation
“corporation” has the meaning given by section 4(1) of the Companies Act 1967;
Subsection (1) does not apply to any offence under this Act —
in respect of the breach of a duty imposed only on corporations; or
for which different penalties are prescribed in this Act (other than section 142(5)) for individuals and for other persons found guilty of the offence.
Where an individual is convicted of an offence under this Act by virtue of section 142(4), the individual shall be liable to the fine or imprisonment or both as prescribed for that offence and subsection (1) does not apply.[55A