Commonwealth Consolidated Acts Commonwealth Consolidated ActsNo. 37, 2003
Compilation No. 7
Compilation date: 20 October 2023
Includes amendments up to: Act No. 76, 2023
Registered: 11 November 2023
About this compilation
This compilation
This is a compilation of the Medical Indemnity (Prudential Supervision and Product Standards) Act 2003 that shows the text of the law as amended and in force on 20 October 2023 (the compilation date).
The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.
Uncommenced amendments
The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.
Application, saving and transitional provisions for provisions and amendments
If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.
Editorial changes
For more information about any editorial changes made in this compilation, see the endnotes.
Modifications
If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.
Self-repealing provisions
If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.
Contents
Part 1--Introductory
Division 1--Preliminary
1 Short title
2 Commencement
3 Objects
Division 2--Interpretation
5 Providing medical indemnity cover
6 Claims-made based cover and incident-occurring based cover
7 When certain death, disability and retirement arrangements are taken to be entered into
7A Reasonableness of premiums
Division 3--Application of Act
8 Application of Act
9 Act extends to external Territories
Part 2--Prudential requirements for provision of medical indemnity cover
10 Medical indemnity cover to be provided only by general insurers and only under contracts of insurance
11 Intermediary's responsibilities
Part 3--Product standards for medical indemnity insurance contracts
Division 1--Minimum cover
16 Minimum cover amount
17 Minimum cover for single claim
18 Minimum annual cover--incident-occurring based cover
19 Minimum annual cover--other cover
20 Amount payable by insurer
Division 2--Offers to provide retroactive and run-off cover for otherwise uncovered prior incidents
Subdivision A--Regulated insurance contracts
21 Regulated insurance contracts
Subdivision B--Insurer's responsibilities
22 Additional offer of retroactive cover when regulated insurance contract entered into, comes into effect or is renewed
23 Additional offer of run-off cover when particular events happen during claims period for regulated insurance contract
24 Complying offer
26 Federal Court may order insurer to make offer
Division 2A--Provision of run-off cover to certain medical practitioners
26A Provision of run-off cover to certain medical practitioners
26B Medical practitioners provided with medical indemnity cover by MDOs, but not adequate run-off cover
26C Provision of run-off in accordance with arrangements with MDOs
26D Notification and record-keeping
26E Run-off cover taken to be provided under contract of insurance
26F Federal Court may order insurer to provide run-off cover or MDO to enter into arrangement
26G Pecuniary penalties for offences against this Division
Division 3--Intermediary's responsibilities
27 Intermediary's responsibilities
Part 4--Administration
28 APRA to have general administration of Part 2
29 APRA Act secrecy provisions apply
30 ASIC to have general administration of Part 3
Part 5--Miscellaneous
31 Anti-avoidance measures
32 Act not to affect State and Territory laws
33 Regulations
Endnotes
Endnote 1--About the endnotes
Endnote 2--Abbreviation key
Endnote 3--Legislation history
Endnote 4--Amendment history
The endnotes provide information about this compilation and the compiled law.
The following endnotes are included in every compilation:
Endnote 1--About the endnotes
Endnote 2--Abbreviation key
Endnote 3--Legislation history
Endnote 4--Amendment history
Abbreviation key--Endnote 2
The abbreviation key sets out abbreviations that may be used in the endnotes.
Legislation history and amendment history--Endnotes 3 and 4
Amending laws are annotated in the legislation history and amendment history.
The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.
The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.
Editorial changes
The Legislation Act 2003 authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date.
If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel.
Misdescribed amendments
A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003.
If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and "(md not incorp)" is added to the amendment history.
ad = added or inserted | o = order(s) |
am = amended | Ord = Ordinance |
amdt = amendment | orig = original |
c = clause(s) | par = paragraph(s)/subparagraph(s) |
C[x] = Compilation No. x | /sub-subparagraph(s) |
Ch = Chapter(s) | pres = present |
def = definition(s) | prev = previous |
Dict = Dictionary | (prev ... ) = previously |
disallowed = disallowed by Parliament | Pt = Part(s) |
Div = Division(s) | r = regulation(s)/rule(s) |
ed = editorial change | reloc = relocated |
exp = expires/expired or ceases/ceased to have | renum = renumbered |
effect | rep = repealed |
F = Federal Register of Legislation | rs = repealed and substituted |
gaz = gazette | s = section(s)/subsection(s) |
LA = Legislation Act 2003 | Sch = Schedule(s) |
Sdiv = Subdivision(s) | |
(md) = misdescribed amendment can be given | SLI = Select Legislative Instrument |
effect | SR = Statutory Rules |
(md not incorp) = misdescribed amendment | Sub-Ch = Sub-Chapter(s) |
cannot be given effect | SubPt = Subpart(s) |
mod = modified/modification | underlining = whole or part not |
No. = Number(s) | commenced or to be commenced |
Endnote 3--Legislation history
Act | Number and year | Assent | Commencement | Application, saving and transitional provisions |
Medical Indemnity (Prudential Supervision and Product Standards) Act 2003 | 37, 2003 | 2 May 2003 | 1 July 2003 (s 2) |
|
Medical Indemnity Legislation Amendment (Run-off Cover Indemnity and Other Measures) Act 2004 | 77, 2004 | 23 June 2004 | Sch 1 (item 36) and Sch 3: 1 July 2004 (s 2(1) items 6, 8) | -- |
25, 2005 | 21 Mar 2005 | Sch 1 (items 15, 16): 22 Mar 2005 (s 2(1) item 9) | -- | |
111, 2005 | 6 Sept 2005 | Sch 2 (item 550): 1 Oct 2005 (s 2(1) item 7) | -- | |
116, 2006 | 4 Nov 2006 | Sch 1 (items 11-19, 22, 23) and Sch 2 (items 15-20): 4 Nov 2006 (s 2(1) items 3, 5, 6) | -- | |
32, 2011 | 25 May 2011 | Sch 4 (items 358, 359): 1 July 2011 (s 2(1) item 3) | -- | |
Medical and Midwife Indemnity Legislation Amendment Act 2019 | 105, 2019 | 28 Nov 2019 | Sch 4 (items 139-142), Sch 5 (items 5, 6) and Sch 6 (items 58, 59): 1 July 2020 (s 2(1) items 2, 3) | Sch 5 (item 6) and Sch 6 (item 59) |
Treasury Laws Amendment (2023 Law Improvement Package No. 1) Act 2023 | 76, 2023 | 20 Sept 2023 | Sch 2 (item 678): 20 Oct 2023 (s 2(1) item 2) | -- |
Provision affected | How affected |
Part 1 |
|
Division 2 |
|
s 4..................... | am No 77, 2004; No 32, 2011; No 76, 2023 |
s 6..................... | am No 116, 2006 |
s 7..................... | am No 116, 2006 |
s 7A.................... | ad No 77, 2004 |
Part 2 |
|
Division 1 heading.......... | rep No 105, 2019 |
s 10.................... | am No 77, 2004 |
s 11.................... | am No 77, 2004 |
Division 2................ | rep No 105, 2019 |
s 12.................... | rep No 105, 2019 |
s 13.................... | am No 116, 2006 |
| rep No 105, 2019 |
s 14.................... | rep No 105, 2019 |
s 15.................... | rep No 105, 2019 |
Part 3 |
|
Division 1 |
|
s 18.................... | am No 116, 2006 |
s 19.................... | am No 116, 2006 |
s 20.................... | am No 77, 2004; No 105, 2019 |
Division 2 |
|
Subdivision A |
|
s 21.................... | am No 116, 2006 |
Subdivision B |
|
s 22.................... | am No 77, 2004; No 116, 2006 |
s 24.................... | am No 77, 2004 |
s 25.................... | rep No 77, 2004 |
s 26.................... | am No 77, 2004 |
Division 2A |
|
Division 2A............... | ad No 77, 2004 |
s 26A................... | ad No 77, 2004 |
| am No 25, 2005; No 116, 2006; No 105, 2019 |
s 26B................... | ad No 77, 2004 |
s 26C................... | ad No 77, 2004 |
s 26D................... | ad No 77, 2004 |
| am No 25, 2005; No 111, 2005; No 116, 2006; No 32, 2011; No 105, 2019 |
s 26E................... | ad No 77, 2004 |
s 26F................... | ad No 77, 2004 |
s 26G................... | ad No 77, 2004 |