Commonwealth Numbered Acts

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INSURANCE AMENDMENT ACT 1991 No. 32 of 1991 - SECT 3

Exemption in respect of insurance business carried on for benefit of limited class of persons 
3. Section 37 of the Principal Act is amended:
(a) by omitting from paragraph (1) (b) "$500,000" and substituting "the
exemption limit";

   (b)  by inserting after subsection (1) the following subsection:

"(1A) The exemption limit is $750,000 or, if a higher amount is fixed by the
regulations, that amount.";

   (c)  by omitting from subsection (4) "$500,000" and substituting "the
        exemption limit".

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