Commonwealth Numbered Acts

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TERRORISM INSURANCE ACT 2003 No. 43, 2003 - SECT 6

Declared terrorist incidents
(1)
If the Minister, after consulting the Attorney-General, is satisfied that, after the startup time:

(a) a terrorist act has happened in Australia; or
(b) 2 or more related terrorist acts have happened in Australia;

then the Minister must, by notice in the Gazette , declare that the act constitutes, or the acts together constitute, a declared terrorist incident for the purposes of this Act.

(2)
A terrorist act cannot be taken into account for the purposes of subsection (1) if the Minister is satisfied that it is an act of war.

(3)
A terrorist act that consists merely of a threat of action cannot be taken into account for the purposes of subsection (1) unless the Minister is satisfied that the threat resulted in economic loss to a person.

(4)
A terrorist act that consists of threatened action is taken to have happened in Australia if, and only if, the threatened action would happen in Australia.

(5)
A declaration under this section cannot be revoked.

(6)
A declaration under this section may specify a reduction percentage that applies to the declared terrorist incident for the purposes of section 8.

(7)
A reduction percentage must be specified if the Minister considers that, in the absence of a reduction percentage, the total amounts paid or payable by the Commonwealth under section 35 (including amounts not related to the act or acts specified in the declaration) would be more than $10,000 million.

(8)
The Minister may, by notice in the Gazette , vary the reduction percentage, but only by making it smaller. The percentage may be varied more than once.

(9)
The Minister may delegate his or her powers under this section to:

(a) the Secretary of the Department; or
(b) an SES employee, or acting SES employee, in the Department.



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