Section 985C — Corporations Act 2001: Regulations may impose other requirements etc. if financial services licensee is not the insurer

(1) The regulations may impose requirements to be complied with by a financial services licensee in relation to, or make other provision dealing with, a situation specified in subsection (2) that arises in relation to a contract or proposed contract of insurance under which the licensee is not the insurer. (2) The situations are as follows: (a) the licensee receives an amount as a premium or instalment of premium; (b) the licensee does not receive an amount as a premium or instalment of premium by a particular time; (c) the licensee is not aware of the amount of a premium or instalment of premium that is to be paid; (d) the licensee receives money from the insured or intending insured but the risk or part of the risk has not been accepted by a particular time; (e) the licensee receives money from the insurer for payment to or on behalf of the insured.