It is an offence of strict liability for a person lacking body-corporate status, and who is also not a Lloyd's underwriter, to run an insurance business inside Australia, absent an exempting s 7(1) determination (s 9, penalty 60 penalty units). It is an offence of strict liability for a body corporate lacking general-insurer status, or a Lloyd's underwriter once s 93 stops applying, to run such a business in Australia without such a determination (s 10, penalty 60 penalty units, with the court able to impose up to 5 times that fine on a body corporate under s 4B(3) of the Crimes Act 1914). A general insurer is defined in s 11 as a body corporate authorised under s 12. This is the entity's foundation duty: general insurance business is conducted only inside an APRA authorisation or an exemption determination.
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.