Clause 52

by deleting the words “registered insurer” wherever they appear in subsections (3), (5) to (8), (12) and (13) and substituting in each case the words “licensed insurer”;

by deleting “27,” in subsection (7)(a);

by deleting subsection (9) and substituting the following subsection:“(9) A licensed insurer or a subscriber which contravenes any provision in the certificate shall be guilty of an offence and shall be liable on conviction —

in the case of an individual, to a fine not exceeding $125,000 or to imprisonment for a term not exceeding 3 years or to both and, in the case of a continuing offence, to a further fine not exceeding $12,500 for every day or part thereof during which the offence continues after conviction; and

in any other case, to a fine not exceeding $250,000 and, in the case of a continuing offence, to a further fine not exceeding $25,000 for every day or part thereof during which the offence continues after conviction.”; and

by deleting the words “registered person” in subsection (13) and substituting the words “licensed insurer”.