Victorian Numbered Acts Victorian Numbered Acts(1) If the Monitor considers that an insurance company has contravened section 26, the Monitor may give the insurance company a notice in writing under this section.
(2) The notice must—
(a) state that it has been given under this section;
(b) specify the name of the insurance company that supplied the regulated contract of insurance and details of the regulated contract of insurance;
(c) state that in the Monitor's opinion the price of the supply was unreasonably high having regard to the matters specified in section 26(2)(b).
(3) The Monitor may vary or revoke a notice given under this section on its own initiative or on the application of the insurance company to which it was given.
(4) The Monitor must give notice in writing to the insurance company of any variation or revocation under subsection (3).
(5) A notice given under this section is in any proceedings for a contravention of section 26 to be taken to be evidence that the price of the supply was unreasonably high having regard to the matters specified in section 26(2)(b) in the absence of any evidence to the contrary.