Commonwealth Numbered Regulations Commonwealth Numbered RegulationsI, General the Honourable David Hurley AC DSC (Retd), Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulations.
Dated 19 February 2024
David Hurley
Governor-General
By His Excellency's Command
Stephen Jones
Assistant Treasurer
Minister for Financial Services
Contents
Part 1--Preliminary
1 Name
2 Commencement
3 Authority
4 Definitions
5 Meaning of unauthorised foreign insurer
6 Meaning of related group
Part 2--Insurance contracts that are not insurance business
7 Simplified outline
8 Circumstances in which undertaking liability under insurance contracts is not insurance business
9 Meaning of high-value insured
10 Insurance contracts for atypical risks
11 Obligations of Australian insurance brokers in relation to certifying that risks cannot reasonably be placed in Australia
12 Insurance contracts required by foreign laws to be issued by specified insurers
Part 3--Insurance business to which the Act does not apply
13 Simplified outline
14 Prescribed bodies corporate
15 Prescribed insurance business
Part 4--Financial claims scheme
16 Simplified outline
17 Policies that are not protected policies
18 Entitlement to payment of claimant under protected policy--period for making claim
19 Entitlement to payment of third party--period for making claim
20 Conditions of eligibility--claimants under protected policies
21 Conditions of eligibility--third parties
22 Recovery of overpayments
Part 5--Application and transitional provisions
Division 1--Provisions relating to this instrument as originally made
23 Certificates