Commonwealth Numbered Acts

EXPORT FINANCE AND INSURANCE CORPORATION AMENDMENT ACT 1976 No. 102 of 1976 - SECT 7

7. Section 31 of the Principal Act is amended by omitting sub- sections (2),
(3) and (4) and substituting the following sub-section:-

''(2) Without limiting the generality of sub-section (1), in an approval given
under sub-section 30 (3) in relation to a contract of insurance insuring a
person against monetary loss or other monetary detriment resulting from a
particular approved cause of loss-

   (a)  the Minister may direct that the insurance shall apply only where the
        loss or detriment-

        (i)    results from such kind or kinds of that approved cause of loss
               as is or are specified in the approval; or

        (ii)   is incurred in respect of such property as is, or property of
               such kind or kinds as is or are, specified in the approval; and

   (b)  the Minister may direct that the insurance shall extend to monetary
        loss or other monetary detriment resulting from a cause or causes of
        loss specified in the approval, being a cause that is, or causes that
        are, related to that approved cause or loss.''.