Commonwealth Consolidated Acts Commonwealth Consolidated ActsAct No. 76 of 1973 as amended
This compilation was prepared on 30 January 2012
taking into account amendments up to Act No. 46 of 2011
The text of any of those amendments not in force
on that date is appended in the Notes section
The operation of
amendments that have been incorporated may be
affected by application provisions that are set out in the Notes section
Prepared by the Office of Legislative Drafting and
Publishing,
Attorney-General's Department, Canberra
Contents
Part I--Preliminary 1
1............ Short title [see Note 1] ........................................................................ 1
2............ Commencement [see Note 1] .............................................................. 1
2A......... Main object of this Act ........................................................................ 1
3............ Interpretation ....................................................................................... 2
3A......... Certain insurance contracts not taken to be insurance business ......... 11
4............ Meaning of subsidiary ...................................................................... 11
5............ Application of Act ............................................................................. 12
6............ Act extends to external Territories ..................................................... 12
7............ Determination that certain provisions do not apply ........................... 12
7A......... Breach of condition of a determination .............................................. 13
Part II--Administration 15
8............ General administration of Act ........................................................... 15
Part III--Authorisation to carry on insurance business 16
Division 1--Need to be authorised 16
9............ Persons other than bodies corporate and Lloyd's underwriters carrying on insurance business 16
10.......... Bodies corporate and Lloyd's underwriters carrying on insurance business 16
11.......... Meaning of general insurer .............................................................. 17
11A....... Injunctions ........................................................................................ 17
Division 2--Authorisation to carry on insurance business 20
12.......... Obtaining an authorisation ................................................................ 20
13.......... Conditions on an authorisation .......................................................... 21
14.......... Breach of authorisation conditions .................................................... 22
Division 3--Revocation of an authorisation 23
15.......... When APRA may revoke an authorisation ....................................... 23
16.......... When APRA must revoke a general insurer's authorisation ............. 24
16A....... Continuation of effect of general insurer's authorisation ................... 25
17.......... Assignment of liabilities to enable revocation ................................... 25
Division 3A--Transfer and amalgamation of insurance business 28
17A....... Interpretation ..................................................................................... 28
17B....... Transfer or amalgamation of insurance business ............................... 28
17C....... Steps to be taken before application for confirmation ........................ 29
17D....... Actuarial report on scheme ................................................................ 29
17E........ Application to Court .......................................................................... 30
17F........ Confirmation of scheme .................................................................... 30
17G....... Effect of confirmation etc. ................................................................. 30
17H....... Costs of actuary's report ................................................................... 31
17I......... Documents to be lodged in case of transfer or amalgamation ............ 31
Division 4--Authorisation to be a NOHC of a general insurer 32
18.......... Authorisation to be a NOHC ............................................................ 32
19.......... Conditions on a NOHC authorisation ............................................... 33
20.......... Breach of conditions on a NOHC authorisation ................................ 33
21.......... When APRA may revoke a NOHC authorisation ............................. 34
22.......... When APRA must revoke a NOHC authorisation ............................ 35
22A....... Continuation of effect of body corporate's NOHC authorisation ...... 36
23.......... Publication of list of authorised NOHCs .......................................... 36
Division 5--Directors, senior managers and other representatives of general insurers and authorised NOHCs 37
24.......... Disqualified persons must not act for general insurers or authorised NOHCs 37
25.......... Who is a disqualified person? ........................................................... 39
25A....... Court power of disqualification ......................................................... 40
26.......... Court power to revoke or vary a disqualification etc. ........................ 42
26A....... Privilege against exposure to penalty--disqualification under section 25A or 44 43
27.......... APRA may remove a director or senior manager of a general insurer, authorised NOHC or corporate agent 44
Division 6--Other matters 48
28.......... General insurer must hold sufficient assets ....................................... 48
29.......... Change of name of a general insurer or authorised NOHC ............... 48
30.......... General insurer or authorised NOHC ceasing to exist ...................... 49
31.......... Effect of authorisation as a general insurer ........................................ 49
Part IIIA--Prudential supervision and monitoring of general insurers, authorised NOHCs and their subsidiaries 50
Division 1--The prudential standards 50
32.......... APRA may determine prudential standards ..................................... 50
34.......... Notification of prudential standards .................................................. 52
35.......... Obligation to comply with the prudential standards .......................... 53
Division 3--Monitoring of prudential matters 54
38.......... APRA to monitor prudential matters ................................................. 54
38AA.... Requirement to notify APRA of certain matters ................................ 54
Division 4--Protections in relation to information 57
Subdivision A--Protection for whistleblowers 57
38A....... Disclosures qualifying for whistleblower protection ......................... 57
38B....... Whistleblower protection for disclosures that qualify ....................... 58
38C....... Victimisation of whistleblowers prohibited ....................................... 59
38D....... Right to compensation ....................................................................... 60
38E........ Confidentiality requirement for company, company officers and employees and auditors 60
Subdivision B--Self-incrimination 62
38F........ Self-incrimination .............................................................................. 62
Part IV--Auditors, actuaries and accounts 63
Division 1--The auditors and actuary of a general insurer 63
39.......... Requirement for general insurers to have an auditor and actuary ...... 63
40.......... Additional auditors ............................................................................ 63
41.......... Compliance with prudential standards ............................................... 64
43.......... When a person stops holding an appointment ................................... 64
43A....... Disqualified persons must not act as auditor or actuary of general insurer 64
44.......... Court power of disqualification ......................................................... 66
45.......... Court power to revoke or vary a disqualification etc. ........................ 67
46.......... Notification of appointment as an auditor or actuary ......................... 67
48.......... Referring matters to professional associations for auditors and actuaries 67
Division 2--Provision of information to APRA 69
49.......... Duty of auditors and actuaries to give information when required .... 69
49A....... Additional duty of auditors and actuaries to give information ........... 69
49B....... Auditor or actuary may give information to APRA .......................... 73
49C....... Indemnity .......................................................................................... 73
49D....... Auditor must notify APRA of attempts to unduly influence etc. the auditor 73
49DA.... Giving false or misleading information to auditor ............................. 74
Division 3--Actuarial investigation required by APRA 76
49E........ Actuarial investigation of liabilities ................................................... 76
49F........ Offence for contravening section 49E ............................................... 77
49G....... Who can be appointed as a section 49E actuary ................................ 78
49H....... Delegate's decision to extend time for providing actuary's report ..... 78
Division 4--Role of auditor and actuary of a general insurer 79
49J........ Auditor's role .................................................................................... 79
49K....... Actuary's role ................................................................................... 79
49L........ Lodgment of auditor's certificate and actuary's reports ..................... 80
Division 5--Accounts 81
49Q....... Keeping of accounting records .......................................................... 81
Division 6--Removal of auditors and actuaries 83
49R....... APRA may direct removal of auditor or actuary ............................... 83
Part V--Investigations of general insurers etc. 85
50.......... Interpretation ..................................................................................... 85
52.......... Investigation of general insurer, authorised NOHC or subsidiary by APRA or inspector 86
54.......... Entry on premises ............................................................................. 89
55.......... Powers of APRA or inspector .......................................................... 90
56.......... Persons to comply with requirements of APRA or the inspector ...... 91
57.......... Person may be represented by a legal practitioner ............................. 91
58.......... Notes of examination of person ........................................................ 91
59.......... Delegation ......................................................................................... 92
60.......... Report of APRA or the inspector ...................................................... 92
61.......... Offences ............................................................................................ 94
Part VA--Investigations of unauthorised insurance 95
62A....... Investigations relating to contraventions of section 9 or 10 etc. ........ 95
62B....... Access to premises ............................................................................ 95
62C....... Powers of APRA or inspector .......................................................... 96
62D....... Persons to comply with requirements of APRA or the inspector ...... 97
62E........ Person may be represented by a legal practitioner ............................. 98
62F........ Notes of examination of person ........................................................ 98
62G....... Delegation ......................................................................................... 98
62H....... Investigations to be completed within a reasonable time ................... 99
62J........ Report of the inspector ...................................................................... 99
Part VB--Judicial management, other external administration and winding up 100
Division 1--Judicial management of general insurers 100
62K....... Application for order for judicial management ................................ 100
62L........ Order for judicial management after investigation ........................... 100
62M...... Order for judicial management on other grounds ............................ 101
62N....... Commencement of judicial management ......................................... 101
62P........ Stay of proceedings during judicial management ............................ 102
62Q....... No judicial management except in accordance with this Act ........... 102
62R....... Appointment of judicial manager .................................................... 102
62S........ Remuneration of judicial manager ................................................... 102
62T........ Management vests in judicial manager ............................................ 103
62U....... Effect on external administrator of judicial manager managing general insurer 104
62V....... Judicial manager being in control not ground for denying obligation 104
62W...... Continued application of other Parts of Act .................................... 105
62X....... Federal Court's control of judicial manager .................................... 105
62Y....... Powers of judicial manager ............................................................. 105
62Z........ Judicial manager's additional powers to facilitate recapitalisation ... 106
62ZA..... Considering report before acting under section 62Z ........................ 107
62ZB..... Act under section 62Z not ground for denying obligation ............... 110
62ZC..... Application by APRA for instructions to judicial manager ............. 110
62ZD..... Request by APRA for information ................................................. 110
62ZE..... Duration of judicial management ..................................................... 111
62ZF..... Cancellation of judicial management ............................................... 111
62ZG..... How judicial manager is to manage ................................................. 112
62ZH..... Disclaimer of onerous property ....................................................... 112
62ZI...... Report by judicial manager .............................................................. 113
62ZJ...... Order of Federal Court on report of judicial manager ..................... 114
62ZK..... Transfer of business to another general insurer ............................... 115
62ZL..... Resignation ..................................................................................... 115
62ZM.... Immunity ......................................................................................... 115
62ZN..... Exceptions to Part IV of the Competition and Consumer Act 2010 116
62ZO..... Limited application of Division to foreign general insurers ............. 116
Division 2--Extra provisions relating to external administration of general insurers 117
62ZP..... Relationship of this Division with Chapter 5 of the Corporations Act 2001 117
62ZQ..... Involving APRA in applications to appoint external administrators of general insurers 117
62ZR..... Involving APRA in applications by liquidator ................................ 118
62ZS..... Application by APRA for directions ............................................... 118
62ZT..... APRA may request information from liquidator ............................. 118
Division 3--Extra provisions for winding up general insurers 119
62ZU..... Order to wind up general insurer on APRA's application .............. 119
62ZV..... Relationship with the Corporations Act 2001 ................................. 119
Part VC--Financial claims scheme for policyholders with insolvent general insurers 120
Division 1--Preliminary 120
62ZW.... Purpose of this Part ......................................................................... 120
62ZX..... APRA's functions relating to this Part ............................................ 120
62ZY..... Determination that policies are not protected policies ...................... 120
62ZZ..... Determination that persons do not have entitlements ....................... 121
62ZZA.. Allowing extra time for claims ........................................................ 121
Division 2--Declaration of general insurer 122
62ZZC... Declaration that Division 3 applies in relation to general insurer ..... 122
62ZZD.. Advice and information for decision on making declaration ........... 123
62ZZE... APRA may advise Minister of its belief of insolvency ................... 124
Division 3--Early payment of claims 125
62ZZF... Entitlement to payment of claimant under protected policy .............. 125
62ZZG.. Entitlement to payment of third party .............................................. 126
62ZZH.. Entitlement on basis of notionally extended cover ........................... 127
62ZZI.... APRA must determine insurer's liability in respect of claim ........... 128
62ZZJ.... Determinations APRA must make on application ........................... 128
62ZZK... Payment .......................................................................................... 129
62ZZKA Giving information about payments in a financial year ................... 129
62ZZL... Substitution of APRA as insurer's creditor .................................... 130
62ZZM.. Meeting of entitlement taken to be payment by insurer ................... 131
Division 4--Administration 132
62ZZN.. APRA to try to ensure awareness of making of claims ................... 132
62ZZO.. Requiring assistance ........................................................................ 132
62ZZP... Obtaining information relevant to determining and paying entitlements 132
62ZZQ.. Enforcing requirement to give information ...................................... 134
62ZZR... Obtaining further information from claimant or applicant ............... 136
62ZZS... Recovery of overpayments .............................................................. 136
62ZZT... APRA may delegate functions and powers under this Part ............. 137
62ZZU.. APRA's costs of administration ..................................................... 137
Division 5--Exceptions to Part IV of the Competition and Consumer Act 2010 138
62ZZV.. Exceptions to Part IV of the Competition and Consumer Act 2010 138
Part VI--Review of decisions 139
63.......... Review of certain decisions ............................................................. 139
64.......... Statements to accompany notification of decisions .......................... 141
Part VII--Lloyd's 142
Division 1--Preliminary 142
65.......... Simplified outline ............................................................................ 142
66.......... Definitions ...................................................................................... 143
Division 2--Security trust fund arrangements 144
67.......... Security trust funds ......................................................................... 144
68.......... Security trust fund arrangements ..................................................... 144
69.......... Designated security trust funds ....................................................... 146
70.......... Rules about designated security trust funds .................................... 146
71.......... Transfers to trustee of security trust fund--presumption of regularity 147
72.......... When security trust fund constitutes an adequate security for the class of insurance liabilities secured by the fund 147
73.......... Affairs of security trust fund ........................................................... 147
Division 3--General powers of APRA 148
74.......... APRA may direct that Lloyd's underwriters must not issue or renew policies 148
75.......... Actuarial investigation of adequacy of security provided by designated security trust funds 149
76.......... Provision for liabilities in the accounts of designated security trust funds 150
Division 4--Investigations 152
Subdivision A--Inquiries and directions by APRA 152
77.......... Inquiries by APRA ......................................................................... 152
78.......... Direction not to deal with certain assets .......................................... 152
Subdivision B--Investigations 154
79.......... Investigation of designated security trust fund by APRA or inspector 154
80.......... Entry on premises ........................................................................... 155
81.......... Powers of APRA or the inspector to obtain information etc. .......... 155
82.......... Persons to comply with requirements of APRA or the inspector .... 156
83.......... Person may be represented by a legal practitioner ........................... 157
84.......... Notes of examination of person ...................................................... 157
85.......... Delegation ....................................................................................... 158
86.......... Report of APRA or the inspector .................................................... 158
Subdivision C--Offences 160
87.......... Offences .......................................................................................... 160
Division 5--Judicial trusteeship of designated security trust funds 161
88.......... Application for order for judicial trusteeship ................................... 161
89.......... Grounds for order for judicial trusteeship ....................................... 161
90.......... Commencement of judicial trusteeship ............................................ 162
91.......... Stay of proceedings during judicial trusteeship ............................... 162
92.......... Appointment of judicial trustee ....................................................... 163
92A....... Terms and conditions of appointment of judicial trustee ................. 163
92B....... Property vesting orders ................................................................... 164
92C....... Powers of judicial trustee ................................................................ 165
92D....... Court's control of judicial trustee .................................................... 165
92E........ Direction not to deal with certain assets .......................................... 166
92F........ Provision for liabilities in the accounts of designated security trust funds 166
92G....... Application by APRA for instructions to judicial trustee ................ 167
92H....... Request by APRA for information ................................................. 167
92J........ Duration of judicial trusteeship ....................................................... 167
92K....... Cancellation of judicial trusteeship .................................................. 167
92L........ Report by judicial trustee ................................................................. 168
92M...... Judicial trustee may formulate a scheme for the winding-up or dissolution, or both, of a designated security trust fund ........................................................................................................ 169
92N....... Resignation ..................................................................................... 170
92P........ Indemnity ........................................................................................ 170
92Q....... Security deposit ............................................................................... 171
92R....... Application of security deposit--costs of judicial trusteeship of designated security trust fund 172
92S........ Return of security deposit ............................................................... 173
Division 6--Authorisation of Lloyd's underwriters 174
93.......... Lloyd's underwriters ....................................................................... 174
Division 7--Miscellaneous 177
94.......... Trustee of designated security trust fund not to be treated as carrying on insurance business 177
94A....... Injunctions ...................................................................................... 177
95.......... Agent of Lloyd's ............................................................................. 178
96.......... Address for service ......................................................................... 178
97.......... Lloyd's to give notice of by-laws .................................................... 179
98.......... Part does not authorise Lloyd's underwriter to carry on any business the underwriter could not otherwise have carried on ........................................................................................................ 179
Part VIII--Effect of Act on other laws 180
99.......... Operation of State and Territory laws on section 10 ....................... 180
100........ Act not to affect certain State and Territory laws ............................. 180
102........ Laws about accounts or accounting records .................................... 181
103........ Parts V and VA not to affect operation of certain laws ................... 181
Part IX--Directions 182
Division 1--Recapitalisation directions 182
103A..... Who this Division applies to ........................................................... 182
103B..... Recapitalisation direction by APRA ................................................ 182
103C..... Additional contents of a recapitalisation direction ........................... 183
103D..... Compliance with a recapitalisation direction .................................... 183
103E...... APRA must obtain expert's report on the fair value of shares etc. .. 184
103F...... Determination of the fair value of shares by an expert .................... 185
103G..... Determination of the fair value of rights by an expert ..................... 185
103H..... Ascertaining the fair value of other capital instruments ................... 186
103J...... Contravention of certain provisions does not affect the validity of recapitalisation direction etc. 186
103K..... Recapitalisation direction not grounds for denial of obligations ...... 186
103L...... Supply of information about issue and revocation of recapitalisation directions 187
103M.... Non-compliance with a recapitalisation direction ............................ 188
103N..... Exceptions to Part IV of the Competition and Consumer Act 2010 190
Division 2--Other directions 191
104........ APRA may give directions in certain circumstances ....................... 191
105........ Direction not grounds for denial of obligations ............................... 195
106........ Supply of information about issue and revocation of directions ...... 196
107........ Secrecy requirements ...................................................................... 197
108........ Non-compliance with a direction ..................................................... 197
Part X--Miscellaneous 200
115........ Power to require production of information, books, accounts or documents 200
115AA.. Information relating to contraventions of section 9 or 10 etc. .......... 201
115AB.. Persons to comply with requirements of APRA or authorised person 201
115A..... Access to premises .......................................................................... 202
116........ General insurer not to carry on insurance business after start of winding up 203
116A..... Assets and liabilities in Australia .................................................... 204
117........ Address for service in Australia ...................................................... 206
118........ Agent in Australia ........................................................................... 206
120........ Saving if section 93 ceases to have effect ........................................ 208
121........ Service of documents and notices ................................................... 208
122........ Register to be kept ........................................................................... 209
123........ Inspection of Register and auditors' certificates .............................. 209
124........ Evidence and judicial notice ............................................................ 210
125........ APRA Act secrecy provisions apply .............................................. 210
126........ Acceptance and enforcement of undertakings ................................. 210
127........ Severability ..................................................................................... 211
127A..... Compensation for acquisition of property ....................................... 212
128........ Signing of documents ..................................................................... 212
128A..... Continuing offences ........................................................................ 212
129........ Time for bringing proceedings ........................................................ 213
129A..... Joinder of charges and penalties for certain offences ...................... 213
129C..... General insurers must comply with determinations of the Superannuation Complaints Tribunal 214
129D..... Injunctions ...................................................................................... 214
129E...... Civil penalties .................................................................................. 217
130........ Preparation of forms ....................................................................... 217
131........ Costs of investigations .................................................................... 217
131A..... Authorising contracts etc. for protecting policyholders' interests and financial system stability 217
131B..... Borrowing funds for payments under authorised contracts etc. ...... 219
132........ Regulations ..................................................................................... 219
Schedule 1--Civil penalties 221
Part 1--Contravention of a civil penalty provision 221
1............ Federal Court may order person to pay pecuniary penalty for contravening civil penalty provision 221
2............ Contravening a civil penalty provision is not an offence ................. 222
3............ Persons involved in contravening civil penalty provision ............... 222
4............ Recovery of a pecuniary penalty ..................................................... 222
5............ Civil evidence and procedure rules for pecuniary penalty orders .... 222
Part 2--Civil penalty proceedings and criminal proceedings 223
6............ Civil proceedings after criminal proceedings ................................... 223
7............ Criminal proceedings during civil proceedings ............................... 223
8............ Criminal proceedings after civil proceedings ................................... 223
9............ Evidence given in proceedings for penalty not admissible in criminal proceedings 223
Notes 225
An Act relating to Insurance
Notes to
the
Insurance Act 1973 Note 1 The Insurance Act 1973 as shown in this compilation
comprises Act No. 76, 1973 amended as indicated in the Tables below. For application, saving or transitional provisions made by the
Corporations (Repeals, Consequentials and Transitionals) Act 2001, see
Act No. 55, 2001. All relevant information pertaining to application, saving or
transitional provisions prior to 30 June 1997 is not included in this
compilation. For subsequent information see Table A. Table of Acts
|
Act |
Number |
Date |
Date of commencement |
Application, saving or transitional provisions |
|
|
76, 1973 |
19 June 1973 |
Parts I and II |
|
||
|
Statute Law Revision Act 1973 |
216, 1973 |
19 Dec 1973 |
31 Dec 1973 |
Ss. 9(1) and 10 |
|
|
Federal Court of Australia (Consequential Provisions) Act 1976 |
157, 1976 |
9 Dec 1976 |
1 Feb 1977 (see |
-- |
|
|
31, 1977 |
18 May 1977 |
Ss. 3, 12, 13(2), (3), 14, 16-18, 20, |
Ss. 13(3), 15(2) and |
||
|
92, 1981 |
18 June 1981 |
Part X (ss. 25-35): 1 July 1982 (see
Gazette 1982, |
-- |
||
|
177, 1981 |
8 Dec 1981 |
1 Mar 1983 (see Gazette 1983, |
-- |
||
|
as amended by |
|
|
|
|
|
|
Statute Law (Miscellaneous Amendments) Act |
26, 1982 |
7 May 1982 |
Part XI (ss. 73-75): 1 Mar 1983 (see Gazette 1983,
|
-- |
|
|
54, 1983 |
1 Oct 1983 |
Part V (s. 132): |
-- |
||
|
129, 1983 |
22 Dec 1983 |
S. 3(c): (d) |
Ss. 8(2), 10(2), 14(2), 15(2), 24(2), 27(2) and 44-48 |
||
|
as amended by |
|
|
|
|
|
|
72, 1984 |
25 June 1984 |
S. 3: (e) |
S. 5(1) |
||
|
16, 1989 |
20 Apr 1989 |
(see 16, 1989 below) |
-- |
||
|
72, 1984 |
25 June 1984 |
S. 3: 23 July 1984 (f) |
S. 5(1) |
||
|
Australian Trade Commission (Transitional Provisions and Consequential Amendments) Act 1985 |
187, 1985 |
16 Dec 1985 |
Part VIII (s. 60): |
-- |
|
|
168, 1986 |
18 Dec 1986 |
S. 3: Royal Assent (h) |
Ss. 5(1) and 6(3), (4) |
||
|
Insurance and Superannuation Commissioner (Consequential Provisions) Act 1987 |
99, 1987 |
5 Nov 1987 |
23 Nov 1987 (see Gazette 1987, |
Ss. 32 and 33 |
|
|
38, 1988 |
3 June 1988 |
S. 3: Royal Assent (i) |
S. 5(1) |
||
|
87, 1988 |
8 Nov 1988 |
Ss. 1 and 2: Royal Assent |
-- |
||
|
16, 1989 |
20 Apr 1989 |
Ss. 5, 6, 9-18, 22(2), 23, 26(a), 27-32, 33(a), 34(2),
38, 39, 45(a), (b), (d), 47 and 48: 20 Oct 1989 |
-- |
||
|
32, 1991 |
20 Mar 1991 |
20 Mar 1991 |
-- |
||
|
149, 1991 |
21 Oct 1991 |
1 Nov 1991 |
-- |
||
|
1, 1992 |
6 Jan 1992 |
6 Jan 1992 |
Ss. 28-35 |
||
|
6, 1992 |
6 Jan 1992 |
15 Mar 1992 (see Gazette 1992, |
-- |
||
|
210, 1992 |
24 Dec 1992 |
S. 125: 23 June 1993 (see Gazette 1993, No. S186) (j) |
-- |
||
|
88, 1993 |
30 Nov 1993 |
Part 1 (ss. 1-4), |
-- |
||
|
48, 1994 |
7 Apr 1994 |
Ss. 1-3, 10 and 40: Royal Assent |
Ss. 7-9 |
||
|
Life Insurance (Consequential Amendments and Repeals) Act 1995 |
5, 1995 |
23 Feb 1995 |
1 July 1995 (see |
-- |
|
|
Superannuation Industry (Supervision) Legislation Amendment Act 1995 |
144, 1995 |
12 Dec 1995 |
Schedule 1: Royal Assent (k) |
-- |
|
|
Workplace Relations and Other Legislation Amendment Act 1996 |
60, 1996 |
25 Nov 1996 |
Schedule 19 (item 21): Royal Assent (l) |
S. 2(2) and (6) (am. by 77, 1996, Sch. 3 [items 1, 2]) |
|
|
as amended by |
|
|
|
|
|
|
Workplace Relations and Other Legislation Amendment Act (No. 2) 1996 |
77, 1996 |
19 Dec 1996 |
Schedule 3 (items 1, 2): (m) |
-- |
|
|
Retirement Savings Accounts (Consequential Amendments) Act 1997 |
62, 1997 |
28 May 1997 |
2 June 1997 (see s. 2 and Gazette 1997, No. S202) |
-- |
|
|
107, 1997 |
30 June 1997 |
Schedule 5: Royal Assent (n) |
Sch. 5 (items 17, 26, 123) [see Table A] |
||
|
35, 1998 |
22 Apr 1998 |
Schedule 1: 30 Apr 1998 (see Gazette 1998,
No. S188) |
Sch. 1 (items |
||
|
48, 1998 |
29 June 1998 |
Schedule 1 (items 98-113): 1 July 1998 (see Gazette 1998, S316) (o) |
-- |
||
|
Financial Sector Reform (Amendments and Transitional Provisions) Act 1998 |
54, 1998 |
29 June 1998 |
Schedule 9 (Parts 1, 2): 1 July 1998 (see
Gazette 1998, S316) (p) |
-- |
|
|
61, 1998 |
29 June 1998 |
Schedule 4 (items 11, 12): 1 July 1998 (see
Gazette 1998, No. S317) (q) |
S. 2(5) (am. by 63, 1998, Sch. 7) |
||
|
as amended by |
|
|
|
|
|
|
63, 1998 |
29 June 1998 |
Schedule 7: (r) |
-- |
||
|
Financial Sector Reform (Amendments and Transitional Provisions) Act (No. 1) 1999 |
44, 1999 |
17 June 1999 |
Schedule 7 (items 106-113): 1 July 1999
(see Gazette 1999, No. S283) (s) |
Sch. 8 (items |
|
|
as amended by |
|
|
|
|
|
|
160, 2000 |
21 Dec 2000 |
Schedule 1 (item 21): Royal Assent |
-- |
||
|
Criminal Code Amendment (Theft, Fraud, Bribery and Related Offences) Act 2000 |
137, 2000 |
24 Nov 2000 |
Ss. 1-3 and Schedule 1 (items 1, 4, 6, 7,
9-11, 32): Royal Assent |
Sch. 2 (items |
|
|
Treasury Legislation Amendment (Application of Criminal Code) Act (No. 1) 2001 |
31, 2001 |
28 Apr 2001 |
Ss. 1-3, Schedule 1 (items 1-4) and Schedule 2:
Royal Assent |
-- |
|
|
as amended by |
|
|
|
|
|
|
Treasury Legislation Amendment (Application of Criminal Code) Act (No. 3) 2001 |
117, 2001 |
18 Sept 2001 |
Schedule 2 (item 1): (t) |
-- |
|
|
Corporations (Repeals, Consequentials and Transitionals) Act 2001 |
55, 2001 |
28 June 2001 |
Ss. 4-14 and Schedule 3 (items 277-290): 15 July 2001 (see Gazette 2001, No. S285) (u) |
Ss. 4-14 [see Note 1] |
|
|
as amended by |
|
|
|
|
|
|
116, 2003 |
27 Nov 2003 |
Schedule 4 (item 2): (ua) |
-- |
||
|
119, 2001 |
19 Sept 2001 |
Schedules 1 and 3: 1 July 2002 |
Sch. 2 (items |
||
|
as amended by |
|
|
|
|
|
|
37, 2002 |
26 June 2002 |
(see 37, 2002 below) |
-- |
||
|
100, 2005 |
6 July 2005 |
Schedule 2 (item 19): (ub) |
-- |
||
|
Financial Sector (Collection of Data--Consequential and Transitional Provisions) Act 2001 |
121, 2001 |
24 Sept 2001 |
Ss. 1-3: Royal Assent |
Sch. 2 (item 45) and Sch. 3 [see Table A] |
|
|
Financial Services Reform (Consequential Provisions) Act 2001 |
123, 2001 |
27 Sept 2001 |
Schedule 1 (items 240-244): 11 Mar 2002 (see Gazette 2001, No. GN42) (v) |
-- |
|
|
37, 2002 |
26 June 2002 |
Schedule 4 (items 1-17): (w) |
-- |
||
|
|
105, 2002 |
14 Nov 2002 |
Schedule 3 (item 52): 12 May 2003 (see s. 2 and Gazette 2002, No. GN49) |
-- |
|
|
Medical Indemnity (Prudential Supervision and Product Standards) (Consequential Amendments) Act 2003 |
36, 2003 |
2 May 2003 |
1 July 2003 |
-- |
|
|
Australian Prudential Regulation Authority Amendment Act 2003 |
42, 2003 |
24 June 2003 |
Ss. 1-3: Royal Assent |
Sch. 3 [see Table A] |
|
|
116, 2003 |
27 Nov 2003 |
Schedule 5: 28 Nov 2003 |
-- |
||
|
as amended by |
|
|
|
|
|
|
100, 2005 |
6 July 2005 |
Schedule 2 (item 12): (x) |
-- |
||
|
38, 2005 |
1 Apr 2005 |
Schedule 1 (items 219, 220): 16 May 2005 |
-- |
||
|
100, 2005 |
6 July 2005 |
Schedule 1 (item 27): (y) |
-- |
||
|
8, 2007 |
15 Mar 2007 |
Schedule 4 (item 17): Royal Assent |
-- |
||
|
Private Health Insurance (Transitional Provisions and Consequential Amendments) Act 2007 |
32, 2007 |
30 Mar 2007 |
Schedule 2 (item 53): 1 Apr 2007 (see s. 2(1)) |
-- |
|
|
149, 2007 |
24 Sept 2007 |
Schedule 2: 1 July
2008 |
Sch. 2 (item 7) [see Table A] |
||
|
as amended by |
|
|
|
|
|
|
Financial Sector Legislation Amendment (Review of Prudential Decisions) Act 2008 |
25, 2008 |
26 May 2008 |
Schedule 1 (item 71): (z) |
-- |
|
|
Financial Sector Legislation Amendment (Simplifying Regulation and Review) Act 2007 |
154, 2007 |
24 Sept 2007 |
Schedule 1 (items
53-66, 292, 296) and Schedule 4 (items 43-50): Royal Assent |
Sch. 1 (items 292, 296) [see Table A] |
|
|
Financial Sector Legislation Amendment (Review of Prudential Decisions) Act 2008 |
25, 2008 |
26 May 2008 |
Schedule 1 (items 10-21),
Schedule 2 (items 7-16), Schedule 3 (items 1-27, |
Sch. 1 (item 21), Sch. 2 (item 16), Sch. 3 (item 27) and Sch. 4 (item 43) [see Table A] |
|
|
54, 2008 |
25 June 2008 |
25 June 2008 |
-- |
||
|
Financial System Legislation Amendment (Financial Claims Scheme and Other Measures) Act 2008 |
105, 2008 |
17 Oct 2008 |
Schedule 1 (items 18-34,
62): (za) |
Sch. 1 (item 62) and Sch. 3 (items 8, 10, 12, 15, 17) [see Table A] |
|
|
Tax Laws Amendment (2009 Measures No. 2) Act 2009 |
42, 2009 |
23 June 2009 |
Schedule 1 (items 30-33): Royal Assent |
Sch. 1 (item 31) [see Table A] |
|
|
Fair Work (State Referral and Consequential and Other Amendments) Act 2009 |
54, 2009 |
25 June 2009 |
Schedule 18 (item 11): (zb) |
-- |
|
|
Financial Sector Legislation Amendment (Enhancing Supervision and Enforcement) Act 2009 |
75, 2009 |
27 Aug 2009 |
Schedule 1 (item 215):
27 Feb 2010 |
Sch. 2 (item 14) [see Table A] |
|
|
Personal Property Securities (Consequential Amendments) Act 2009 |
131, 2009 |
14 Dec 2009 |
Schedule 5 (item 24): 30 Jan 2012 (see F2011L02397) |
-- |
|
|
Financial Sector Legislation Amendment (Prudential Refinements and Other Measures) Act 2010 |
82, 2010 |
29 June 2010 |
Schedule 2 (items 1-83,
|
Sch. 2 (items 92, 93) [see Table A] |
|
|
Trade Practices Amendment (Australian Consumer Law) Act (No. 2) 2010 |
103, 2010 |
13 July 2010 |
Schedule 6 (items 1, 68, 69, 164): 1 Jan 2011 |
-- |
|
|
Acts Interpretation Amendment Act 2011 |
46, 2011 |
27 June 2011 |
Schedule 2 (items 730-732) and Schedule 3 (items 10, 11): 27 Dec 2011 |
Sch. 3 (items 10, 11) [see Table A] |
|
(a) The Insurance Act 1973 was amended by Part X (sections 25-35) only of the Companies (Miscellaneous Amendments) Act 1981, subsection 2(3) of which provides as follows:
(3) The provisions of this Act other than the provisions referred to in subsections (1) and (2) shall come into operation on the day on which the Companies Act 1981 comes into operation.
(b) The Census and Statistics Amendment Act (No. 2) 1981 was amended by Part XI (sections 73-75) only of the Statute Law (Miscellaneous Amendments) Act (No. 1) 1982, subsection 2(3) of which provides as follows:
(3) Part XI shall come into operation, or shall be deemed to have come into operation, as the case requires, on the date of commencement of the Census and Statistics Amendment Act (No. 2) 1981.
(c) The Insurance Act 1973 was amended by Part V (section 132) only of the Health Legislation Amendment Act 1983, subsection 2(2) of which provides as follows:
(2) The remaining provisions of this Act shall come into operation on 1 February 1984.
(d) Paragraph 3(c) of the Insurance Amendment Act 1983 was repealed by section 8 of the Insurance Legislation Amendment Act 1989 before a date was fixed for its commencement.
(e) The Insurance Amendment Act 1983 was amended by section 3 only of the Statute Law (Miscellaneous Provisions) Act (No. 1) 1984, subsection 2(14) of which provides as follows:
(14) The amendment of the Insurance Amendment Act 1983 made by this Act shall be deemed to have come into operation on 19 January 1984.
(f) The Insurance Act 1973 was amended by section 3 only of the Statute Law (Miscellaneous Provisions) Act (No. 1) 1984, subsection 2(1) of which provides as follows:
(1) Subject to this section, this Act shall come into operation on the twenty-eighth day after the day on which it receives the Royal Assent.
(g) The Insurance Act 1973 was amended by Part VIII (section 60) only of the Australian Trade Commission (Transitional Provisions and Consequential Amendments) Act 1985, subsection 2(1) of which provides as follows:
(1) Subject to subsections (2) and (3), this Act shall come into operation on the commencing day.
Section 3 of the Australian Trade Commission Act 1985 defines "commencing day" as the day fixed by Proclamation for the purposes of subsection 2(2) of that Act.
(h) The Insurance Act 1973 was amended by section 3 only of the Statute Law (Miscellaneous Provisions) Act (No. 2) 1986, subsection 2(1) of which provides as follows:
(1) Subject to this section, this Act shall come into operation on the day on which it receives the Royal Assent.
(i) The Insurance Act 1973 was amended by section 3 only of the Statute Law (Miscellaneous Provisions) Act 1988, subsection 2(1) of which provides as follows:
(1) Subject to this section, this Act commences on the day on which it receives the Royal Assent.
(j) The Insurance Act 1973 was amended by section 125 only of the Corporate Law Reform Act 1992, subsection 2(3) of which provides as follows:
(3) Subject to subsection (4), the remaining provisions of this Act commence on a day or days to be fixed by Proclamation.
(k) The Insurance Act 1973 was amended by Schedule 1 only of the Superannuation Industry (Supervision) Legislation Amendment Act 1995, subsection 2(1) of which provides as follows:
(1) Sections 1, 2 and 3, subsection 4(1), section 5, Schedules 1 and 2, items 1, 6, 10, 22 to 27, 30 to 33, 71 to 75 and 86 of Schedule 4 and items 1 to 7, 10 to 12, 25 to 71, 73 to 78, paragraphs (a), (b) and (c) of item 95, paragraphs (a) and (b) of item 96 and items 97 to 102 of Schedule 5 commence on the day on which this Act receives the Royal Assent.
(l) The Insurance Act 1973 was amended by Schedule 19 (item 21) only of the Workplace Relations and Other Legislation Amendment Act 1996, subsection 2(1) of which provides as follows:
(1) Subject to this section, this Act commences on the day on which it receives the Royal Assent.
(m) The Workplace Relations and Other Legislation Amendment Act 1996 was amended by Schedule 3 (items 1, 2) only of the Workplace Relations and Other Legislation Amendment Act (No. 2) 1996, subsection 2(4) of which provides as follows:
(4) The items of Schedule 3 are taken to have commenced immediately after the Workplace Relations and Other Legislation Amendment Act 1996 received the Royal Assent.
The Workplace Relations and Other Legislation Amendment Act 1996 received the Royal Assent on 25 November 1996.
(n) The Insurance Act 1973 was amended by Schedule 5 only of the Financial Laws Amendment Act 1997, subsection 2(1) of which provides as follows:
(1) Subject to this section, this Act commences on the day on which it receives the Royal Assent.
(o) The Insurance Act 1973 was amended by Schedule 1 (items 98-113) only of the Financial Sector Reform (Consequential Amendments) Act 1998, subsection 2(2) of which provides as follows:
(2) Subject to subsections (3) to (14), Schedules 1, 2 and 3 commence on the commencement of the Australian Prudential Regulation Authority Act 1998.
The Australian Prudential Regulation Authority Act 1998 came into operation on 1 July 1998.
(p) The Insurance Act 1973 was amended by Schedule 9 (items 1-197) only of the Financial Sector Reform (Amendments and Transitional Provisions) Act 1998, subsections 2(2)(g) and (10) of which provide as follows:
(2) The following provisions of this Act commence on the commencement of the Australian Prudential Regulation Authority Act 1998:
(g) Schedule 9, subject to subsections (9) and (10);
(10) Parts 3 and 4 of Schedule 9 commence:
(b) immediately after the commencement of item 5 of Schedule 2 to the Insurance Laws Amendment Act 1998 if the Australian Prudential Regulation Authority Act 1998 commences on or before the commencement of that item.
The Australian Prudential Regulation Authority Act 1998 came into operation on 1 July 1998.
Schedule 2 (other than item 27) to the Insurance Laws Amendment Act 1998 commenced on 1 July 2000 (see Gazette 2000, No. GN25).
(q) The Insurance Act 1973 was amended by Schedule 4 (items 11 and 12) and Schedule 5 (item 33) only of the Company Law Review Act 1998, subsections 2(2) and (5) of which provide as follows:
(2) Subject to subsection (3), section 3 and Schedules 1, 2, 3 and 4 commence on a day to be fixed by Proclamation.
(5) Schedule 5 commences immediately after section 1 of the Taxation Laws Amendment (Company Law Review) Act 1998 commences.
Section 1 of the Taxation Laws Amendment (Company Law Review) Act 1998 commences immediately after item 32 of Schedule 3 of the Taxation Laws Amendment (Company Law Review) Act 1998 commences.
Item 32 of Schedule 3 commenced on 1 July 1998 (see Gazette 1998, No. S317).
(r) The Company Law Review Act 1998 was amended by Schedule 7 only of the Taxation Laws Amendment (Company Law Review) Act 1998, subsection 2(1) of which provides as follows:
(1) Subject to this section, this Act commences on a day to be fixed by Proclamation.
However, if that day is the same day as the day on which Schedule 3 to the Company Law Review Act 1998 commences, this Act commences immediately after item 32 of that Schedule commences.
Item 32 of Schedule 3 commenced on 1 July 1998 (see Gazette 1998, No. S317)
(s) The Insurance Act 1973 was amended by Schedule 7 (items 106-113) only of the Financial Sector Reform (Amendments and Transitional Provisions) Act (No. 1) 1999, subsections 3(1), (2)(e) and (16) of which provide as follows:
(1) Subject to this section, this Act commences on the day on which it receives the Royal Assent.
(2) The following provisions commence on the transfer date:
(e) subject to subsection (12), Schedule 7, other than items 43, 44, 118, 205 and 207 (the commencement of those items is covered by subsections (10), (11) and (13)).
(16) The Governor-General may, by Proclamation published in the Gazette, specify the date that is to be the transfer date for the purposes of this Act.
(t) The Treasury Legislation Amendment (Application of Criminal Code) Act (No. 1) 2001 was amended by Schedule 2 (item 1) only of the Treasury Legislation Amendment (Application of Criminal Code) Act (No. 3) 2001, subsection 2(4) of which provides as follows:
(4) Schedule 2 and Part 4 of Schedule 3 are taken to have commenced immediately after the commencement of item 14 of Schedule 1 to the Treasury Legislation Amendment (Application of Criminal Code) Act (No. 1) 2001.
Item 14 of Schedule 1 commenced on 15 December 2001.
(u) The Insurance Act 1973 was amended by Schedule 3 (items 277-290) only of the Corporations (Repeals, Consequentials and Transitionals) Act 2001, subsection 2(3) of which provides as follows:
(3) Subject to subsections (4) to (10), Schedule 3 commences, or is taken to have commenced, at the same time as the Corporations Act 2001.
(ua) Subsection 2(1) (item 6) of the Financial Sector Legislation Amendment Act (No. 1) 2003 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, on the day or at the time specified in column 2 of the table.
|
Commencement information |
||
|
Column 1 |
Column 2 |
Column 3 |
|
Provision(s) |
Commencement |
Date/Details |
|
6. Schedule 4, item 2 |
Immediately after the time specified in the Corporations (Repeals, Consequentials and Transitionals) Act 2001 for the commencement of item 284 of Schedule 3 to that Act |
15 July 2001 |
(ub) Subsection 2(1) (item 37) of the Statute Law Revision Act 2005 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
|
Provision(s) |
Commencement |
Date/Details |
|
37. Schedule 2, item 19 |
Immediately after the time specified in the General Insurance Reform Act 2001 for the commencement of Schedule 1 to that Act. |
1 July 2002 |
(v) The Insurance Act 1973 was amended by Schedule 1 (items 240-244) only of the Financial Services Reform (Consequential Provisions) Act 2001, subsections 2(1) and (6) of which provide as follows:
(1) In this section :
FSR commencement means the commencement of item 1 of Schedule 1 to the Financial Services Reform Act 2001.
(6) Subject to subsections (7) to (17), the other items of Schedule 1 commence on the FSR commencement.
(w) Subsection 2(1) (items 3 and 4) of the Financial Sector Legislation Amendment Act (No. 1) 2002 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, on the day or at the time specified in column 2 of the table.
|
Provision(s) |
Commencement |
Date/Details |
|
3. Schedule 4, items 1 to 17 |
Immediately after the commencement of Schedule 1 to the General Insurance Reform Act 2001. |
1 July 2002 |
|
4 Schedule 4, item 18 |
Immediately after the commencement of Schedule 2 to the General Insurance Reform Act 2001. |
19 September 2001 |
(x) Subsection 2(1) (item 32) of the Statute Law Revision Act 2005 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
|
Provision(s) |
Commencement |
Date/Details |
|
32. Schedule 2, item 12 |
Immediately after the time specified in the Financial Sector Legislation Amendment Act (No. 1) 2003 for the commencement of Schedule 5 to that Act. |
28 November 2003 |
(y) Subsection 2(1) (item 17) of the Statute Law Revision Act 2005 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
|
Provision(s) |
Commencement |
Date/Details |
|
17. Schedule 1, item 27 |
After the commencement of both Schedule 1 to the General Insurance Reform Act 2001 and Schedule 2 to the Financial Sector (Collection of Data--Consequential and Transitional Provisions) Act 2001. |
1 July 2002 |
(z) Subsection 2(1) (items 3, 4, 7, 9 and 10) of the Financial Sector Legislation Amendment (Review of Prudential Decisions) Act 2008 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
|
Provision(s) |
Commencement |
Date/Details |
|
3. Schedule 1, item 71 |
Immediately before the commencement of items 9A, 9B, 9D, 9E, 9F and 9G of Schedule 2 to the Financial Sector Legislation Amendment (Discretionary Mutual Funds and Direct Offshore Foreign Insurers) Act 2007. However, the provision(s) do not commence at all if those items commence before the day on which this Act receives the Royal Assent. |
1 July 2008 |
|
4. Schedule 1, items 72 to 83 |
The later of: (a) the start of the day on which this Act receives the Royal Assent; and (b) immediately after the commencement of Schedule 2 to the Financial Sector Legislation Amendment (Discretionary Mutual Funds and Direct Offshore Foreign Insurers) Act 2007. However, the provision(s) do not commence at all if the event mentioned in paragraph (b) does not occur. |
1 July 2008 (paragraph (b) applies) |
|
7. Schedule 3, Part 2, Division 1 |
The day on which this Act receives the Royal Assent. However, the provision(s) do not commence at all if items 8 and 13 to 33 of Schedule 2 to the Financial Sector Legislation Amendment (Discretionary Mutual Funds and Direct Offshore Foreign Insurers) Act 2007 have not commenced before that day. |
Does not commence |
|
9. Schedule 3, items 65 and 66 |
Immediately before the commencement of items 8 and 13 to 33 of Schedule 2 to the Financial Sector Legislation Amendment (Discretionary Mutual Funds and Direct Offshore Foreign Insurers) Act 2007. However, the provision(s) do not commence at all if those items commence before the day on which this Act receives the Royal Assent. |
1 July 2008 |
|
10. Schedule 3, item 67 |
Immediately after the commencement of item 5 of Schedule 2 to the Financial Sector Legislation Amendment (Discretionary Mutual Funds and Direct Offshore Foreign Insurers) Act 2007. However, the provision(s) do not commence at all if that item commences before the day on which this Act receives the Royal Assent. |
1 July 2008 |
(za) Subsection 2(1) (items 2 and 3) of the Financial System Legislation Amendment (Financial Claims Scheme and Other Measures) Act 2008 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
|
Provision(s) |
Commencement |
Date/Details |
|
2. Schedule 1 |
Immediately after the provision(s) covered by table item 3. |
18 October 2008 |
|
3. Schedules 2 to 5 |
The day after this Act receives the Royal Assent. |
18 October 2008 |
(zb) Subsection 2(1) (item 41) of the Fair Work (State Referral and Consequential and Other Amendments) Act 2009 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
|
Provision(s) |
Commencement |
Date/Details |
|
41. Schedule 18 |
Immediately after the commencement of Part 2-4 of the Fair Work Act 2009. |
1 July 2009 |
(zc) Subsection 2(1) (item 6) of the Financial Sector Legislation Amendment (Prudential Refinements and Other Measures) Act 2010 provides as follows:
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
|
Provision(s) |
Commencement |
Date/Details |
|
6. Schedule 2, item 84 |
The later of: (a) the same time as the provision(s) covered by table item 5; and (b) immediately after the commencement of Schedule 5 to the Trade Practices Amendment (Australian Consumer Law) Act (No. 2) 2010. However, the provision(s) do not commence at all if the event mentioned in paragraph (b) does not occur. |
1 January 2011 (paragraph (b) applies) |
Table of Amendments
|
ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted |
|
|
Provision affected |
How affected |
|
Part I |
|
|
S. 2A................................... |
ad. No. 119, 2001 |
|
|
am. No. 105, 2008 |
|
S. 3...................................... |
am. No. 216, 1973; No. 157, 1976; No. 31, 1977; No. 92, 1981; Nos. 54 and 129, 1983; No. 99, 1987; No. 87, 1988; No. 16, 1989; No. 1, 1992; No. 5, 1995; No. 60, 1996; Nos. 62 and 107, 1997; Nos. 35, 48 and 54, 1998; No. 44, 1999; Nos. 55, 119, 121 and 123, 2001; No. 105, 2002; No. 42, 2003; Nos. 32, 149 and 154, 2007; Nos. 25, 54 and 105, 2008; No. 54, 2009; No. 82, 2010 |
|
S. 3A................................... |
ad. No. 1, 1992 |
|
|
am. No. 54, 1998 |
|
|
rep. No. 119, 2001 |
|
|
ad. No. 149, 2007 (as rs. by No. 25, 2008) |
|
Heading to s. 4.................. |
rs. No. 119, 2001 |
|
S. 4...................................... |
am. No. 92, 1981; No. 72, 1984 |
|
|
rs. No. 107, 1997 |
|
|
am. Nos. 55 and 119, 2001 |
|
S. 5...................................... |
am. No. 31, 1977; No. 129, 1983; No. 187, 1985; No. 38, 1988; No. 149, 1991; No. 88, 1993; No. 44, 1999; No. 119, 2001 |
|
S. 6...................................... |
rs. No. 216, 1973; No. 119, 2001 |
|
S. 7...................................... |
rs. No. 119, 2001 |
|
|
am. No. 154, 2007; No. 25, 2008 |
|
S. 7A................................... |
ad. No. 119, 2001 |
|
|
am. No. 82, 2010 |
|
Part II |
|
|
S. 8...................................... |
rs. No. 99, 1987; No. 54, 1998 |
|
|
am. No. 123, 2001 |
|
Part III |
|
|
Part III ................................ |
rs. No. 119, 2001 |
|
Division 1 |
|
|
S. 9...................................... |
am. No. 129, 1983 |
|
|
rep. No. 99, 1987 |
|
|
ad. No. 119, 2001 |
|
|
am. No. 82, 2010 |
|
S. 10.................................... |
rs. No. 31, 1977 |
|
|
rep. No. 99, 1987 |
|
|
ad. No. 119, 2001 |
|
|
am. No. 82, 2010 |
|
S. 11.................................... |
rep. No. 99, 1987 |
|
|
ad. No. 119, 2001 |
|
S. 11A................................. |
ad. No. 149, 2007 |
|
Division 2 |
|
|
S. 12.................................... |
am. No. 31, 1977 |
|
|
rep. No. 99, 1987 |
|
|
ad. No. 119, 2001 |
|
|
am. No. 36, 2003; No. 82, 2010 |
|
S. 13.................................... |
am. No. 216, 1973 |
|
|
rs. No. 31, 1977 |
|
|
rep. No. 129, 1983 |
|
|
ad. No. 119, 2001 |
|
|
am. No. 25, 2008 |
|
S. 14.................................... |
am. No. 31, 1977; No. 129, 1983 |
|
|
rep. No. 99, 1987 |
|
|
ad. No. 119, 2001 |
|
|
am. No. 116, 2003; No. 82, 2010 |
|
Note 3 to s. 14(2)............... |
rep. No. 116, 2003 |
|
Division 3 |
|
|
S. 15.................................... |
rs. No. 31, 1977 |
|
|
am. No. 129, 1983 |
|
|
rep. No. 99, 1987 |
|
|
ad. No. 119, 2001 |
|
|
am. No. 25, 2008 |
|
S. 16.................................... |
rep. No. 31, 1977 |
|
|
ad. No. 119, 2001 |
|
S. 16A................................. |
ad. No. 82, 2010 |
|
S. 17.................................... |
rep. No. 31, 1977 |
|
|
ad. No. 119, 2001 |
|
|
am. No. 116, 2003; No. 25, 2008; No. 82, 2010 |
|
Note 3 to s. 17(9)............... |
rep. No. 116, 2003 |
|
Division 3A |
|
|
Ss. 17A-17E....................... |
ad. No. 119, 2001 |
|
S. 17F................................. |
ad. No. 119, 2001 |
|
|
am. No. 105, 2008 |
|
Ss. 17G-17I........................ |
ad. No. 119, 2001 |
|
Division 4 |
|
|
S. 18.................................... |
rep. No. 99, 1987 |
|
|
ad. No. 119, 2001 |
|
|
am. No. 82, 2010 |
|
S. 19.................................... |
am. No. 31, 1977 |
|
|
rs. No. 129, 1983 |
|
|
rep. No. 99, 1987 |
|
|
ad. No. 119, 2001 |
|
|
am. No. 25, 2008 |
|
S. 19A................................. |
ad. No. 129, 1983 |
|
|
rs. No. 107, 1997 |
|
|
rep. No. 54, 1998 |
|
S. 20.................................... |
am. No. 129, 1983 |
|
|
rep. No. 99, 1987 |
|
|
ad. No. 119, 2001 |
|
|
am. No. 116, 2003; No. 82, 2010 |
|
Note 3 to s. 20(2)............... |
rep. No. 116, 2003 |
|
S. 21.................................... |
rs. No. 129, 1983 |
|
|
am. No. 107, 1997; No. 35, 1998; No. 31, 2001 |
|
|
rs. No. 119, 2001 |
|
|
am. No. 25, 2008 |
|
S. 22.................................... |
am. No. 92, 1981; No. 129, 1983; No. 107, 1997; Nos. 54 and 61, 1998; No. 137, 2000 |
|
|
rs. No. 119, 2001 |
|
S. 22A................................. |
ad. No. 82, 2010 |
|
S. 23.................................... |
am. No. 129, 1983; No. 1, 1992; No. 107, 1997; No. 54, 1998; No. 121, 2001 |
|
|
rs. No. 119, 2001 |
|
Division 5 |
|
|
S. 24.................................... |
am. No. 129, 1983; No. 1, 1992; No. 107, 1997; No. 54, 1998; No. 121, 2001 |
|
|
rs. No. 119, 2001 |
|
|
am. No. 25, 2008 |
|
S. 25.................................... |
rep. No. 31, 1977 |
|
|
ad. No. 119, 2001 |
|
|
am. No. 37, 2002; No. 149, 2007; No. 25, 2008 |
|
Note to s. 25(1).................. |
am. No. 25, 2008 |
|
S. 25A................................. |
ad. No. 37, 2002 |
|
|
rs. No. 25, 2008 |
|
|
am. No. 25, 2008 |
|
S. 26.................................... |
rep. No. 129, 1983 |
|
|
ad. No. 119, 2001 |
|
|
am. No. 37, 2002 |
|
|
rs. No. 25, 2008 |
|
S. 26A................................. |
ad. No. 82, 2010 |
|
Heading to s. 27................ |
am. No. 149, 2007 |
|
S. 27.................................... |
am. No. 31, 1977; No. 129, 1983; No. 107, 1997; No. 54, 1998 |
|
|
rs. No. 119, 2001 |
|
|
am. No. 116, 2003; No. 149, 2007; No. 25, 2008; No. 82, 2010 |
|
Note 3 to s. 27(8)............... |
rep. No. 116, 2003 |
|
Division 6 |
|
|
S. 28.................................... |
am. No. 54, 1998 |
|
|
rs. No. 119, 2001 |
|
|
am. No. 105, 2008; No. 82, 2010 |
|
S. 29.................................... |
rs. No. 129, 1983 |
|
|
am. No. 1, 1992; No. 107, 1997; No. 54, 1998 |
|
|
rs. No. 119, 2001 |
|
S. 30.................................... |
am. No. 31, 1977; No. 129, 1983; No. 168, 1986; No. 48, 1994; No. 5, 1995; No. 107, 1997; Nos. 48 and 54, 1998; No. 44, 1999 |
|
|
rs. No. 119, 2001 |
|
S. 31.................................... |
am. No. 31, 1977; No. 129, 1983; No. 168, 1986; No. 5, 1995; No. 107, 1997; No. 54, 1998; No. 31, 2001 |
|
|
rs. No. 119, 2001 |
|
Part IIIA |
|
|
Part IIIA .............................. |
ad. No. 119, 2001 |
|
Division 1 |
|
|
S. 32.................................... |
am. No. 31, 1977 |
|
|
rs. No. 119, 2001 |
|
|
am. No. 37, 2002; No. 154, 2007; No. 25, 2008; No. 82, 2010 |
|
S. 33.................................... |
am. No. 31, 1977; No. 92, 1981; No. 129, 1983; No. 168, 1986; No. 48, 1994; No. 107, 1997; No. 54, 1998 |
|
|
rs. No. 119, 2001 |
|
|
am. No. 37, 2002 |
|
|
rep. No. 154, 2007 |
|
S. 34.................................... |
am. No. 107, 1997; Nos. 35 and 54, 1998 |
|
|
rs. No. 119, 2001 |
|
Heading to s. 34A.............. |
am. No. 54, 1998 |
|
|
rep. No. 119, 2001 |
|
S. 34A................................. |
ad. No. 35, 1998 |
|
|
am. No. 54, 1998; No. 31, 2001 (as rep. by No. 117, 2001) |
|
|
rep. No. 119, 2001 |
|
Note to s. 34A(10).............. |
ad. No. 31, 2001 |
|
|
rep. No. 119, 2001 |
|
S. 35.................................... |
am. No. 129, 1983; No. 107, 1997 |
|
|
rs. No. 119, 2001 |
|
S. 35A................................. |
ad. No. 116, 2003 |
|
|
rep. No. 154, 2007 |
|
Div. 2 of Part IIIA................ |
rep. No. 25, 2008 |
|
S. 36.................................... |
am. No. 31, 1977; No. 129, 1983; No. 107, 1997; No. 54, 1998 |
|
|
rs. No. 119, 2001 |
|
|
rep. No. 25, 2008 |
|
S. 37.................................... |
am. No. 129, 1983; No. 32, 1991; No. 1, 1992; No. 107, 1997; No. 54, 1998; No. 31, 2001 |
|
|
rs. No. 119, 2001 |
|
|
am. No. 116, 2003 |
|
|
rep. No. 25, 2008 |
|
Note 3 to s. 37(4)............... |
rep. No. 116, 2003 |
|
Division 3 |
|
|
S. 38.................................... |
rs. No. 119, 2001 |
|
Subhead. to s. 38AA(6)..... |
rs. No. 82, 2010 |
|
S. 38AA............................... |
ad. No. 154, 2007 |
|
|
am. No. 82, 2010 |
|
Division 4 |
|
|
Div. 4 of Part IIIA................ |
ad. No. 154, 2007 |
|
Subdivision A |
|
|
S. 38A................................. |
ad. No. 154, 2007 |
|
|
am. No. 82, 2010 |
|
Ss. 38B-38D....................... |
ad. No. 154, 2007 |
|
S. 38E................................. |
ad. No. 154, 2007 |
|
|
am. No. 82, 2010 |
|
Subdivision B |
|
|
S. 38F................................. |
ad. No. 154, 2007 |
|
Part IV |
|
|
Part IV................................. |
rs. No. 119, 2001 |
|
Division 1 |
|
|
Heading to Div. 1 of Part IV..................................... |
rs. No. 82, 2010 |
|
S. 39.................................... |
am. No. 92, 1981; No. 129, 1983; No. 107, 1997 |
|
|
rs. No. 119, 2001 |
|
|
am. No. 154, 2007; No. 25, 2008; No. 82, 2010 |
|
Note to s. 39(1).................. |
rep. No. 154, 2007 |
|
S. 40.................................... |
am. No. 129, 1983; No. 107, 1997; No. 54, 1998; No. 31, 2001 |
|
|
rs. No. 119, 2001 |
|
|
rep. No. 154, 2007 |
|
|
ad. No. 82, 2010 |
|
S. 41.................................... |
am. No. 31, 1977; No. 129, 1983; No. 107, 1997; No. 54, 1998 |
|
|
rs. No. 119, 2001 |
|
S. 42.................................... |
am. No. 129, 1983 |
|
|
rs. No. 119, 2001 |
|
|
am. No. 37, 2002 |
|
|
rep. No. 154, 2007 |
|
S. 43.................................... |
am. No. 129, 1983; No. 54, 1998 |
|
|
rs. No. 119, 2001 |
|
|
am. No. 37, 2002; No. 154, 2007; No. 25, 2008; No. 82, 2010 |
|
S. 43A................................. |
ad. No. 25, 2008 |
|
Heading to s. 44................ |
am. No. 54, 1998 |
|
|
rep. No. 121, 2001 |
|
S. 44.................................... |
am. No. 129, 1983; No. 1, 1992; No. 107, 1997; Nos. 35 and 54, 1998; No. 31, 2001 |
|
|
rep. No. 121, 2001 |
|
|
ad. No. 119, 2001 |
|
|
rs. No. 25, 2008 |
|
S. 45.................................... |
am. No. 31, 1977; No. 129, 1983; No. 107, 1997 |
|
|
rs. No. 35, 1998 |
|
|
am. No. 54, 1998 |
|
|
rep. No. 121, 2001 |
|
|
ad. No. 119, 2001 |
|
|
rs. No. 25, 2008 |
|
S. 46.................................... |
am. No. 31, 1977; No. 129, 1983; No. 107, 1997; No. 54, 1998 |
|
|
rs. No. 119, 2001 |
|
|
am. No. 82, 2010 |
|
S. 47.................................... |
am. No. 31, 1977; No. 129, 1983; No. 107, 1997 |
|
|
rs. No. 119, 2001 |
|
|
am. No. 116, 2003 |
|
|
rep. No. 154, 2007 |
|
Note 3 to s. 47(6)............... |
rep. No. 116, 2003 |
|
Heading to s. 48................ |
am. No. 54, 1998 |
|
|
rs. No. 119, 2001; No. 154, 2007 |
|
S. 48.................................... |
am. No. 129, 1983; No. 107, 1997; Nos. 35 and 54, 1998; No. 31, 2001 |
|
|
rs. No. 119, 2001; No. 154, 2007 |
|
|
am. No. 25, 2008 |
|
S. 48A................................. |
ad. No. 1, 1992 |
|
|
am. No. 107, 1997; No. 54, 1998; No. 31, 2001 |
|
|
rep. No. 119, 2001 |
|
Heading to s. 48B.............. |
am. No. 54, 1998 |
|
|
rep. No. 119, 2001 |
|
S. 48B................................. |
ad. No. 1, 1992 |
|
|
am. No. 54, 1998 |
|
|
rep. No. 119, 2001 |
|
Division 2 |
|
|
S. 49.................................... |
am. No. 129, 1983; No. 107, 1997; No. 54, 1998 |
|
|
rep. No. 121, 2001 |
|
|
ad. No. 119, 2001 |
|
|
am. No. 116, 2003; No. 82, 2010 |
|
Subheads. to s. 49A(1)-(3)........................................ |
ad. No. 154, 2007 |
|
S. 49A................................. |
ad. No. 107, 1997 |
|
|
rs. No. 119, 2001 |
|
|
am. No. 154, 2007; No. 82, 2010 |
|
S. 49B................................. |
ad. No. 107, 1997 |
|
|
am. Nos. 48 and 54, 1998; No. 44, 1999 |
|
|
rs. No. 119, 2001 |
|
|
am. No. 116, 2003; No. 82, 2010 |
|
S. 49C................................. |
ad. No. 107, 1997 |
|
|
am. No. 54, 1998; No. 137, 2000 |
|
|
rs. No. 119, 2001 |
|
S. 49D................................. |
ad. No. 107, 1997 |
|
|
am. No. 54, 1998 |
|
|
rs. No. 119, 2001 |
|
|
rep. No. 154, 2007 |
|
|
ad. No. 82, 2010 |
|
S. 49DA............................... |
ad. No. 82, 2010 |
|
Division 3 |
|
|
S. 49E................................. |
ad. No. 107, 1997 |
|
|
am. Nos. 48 and 54, 1998; No. 44, 1999 |
|
|
rs. No. 119, 2001 |
|
S. 49F................................. |
ad. No. 107, 1997 |
|
|
am. No. 54, 1998; No. 31, 2001 |
|
|
rs. No. 119, 2001 |
|
|
am. No. 82, 2010 |
|
S. 49G................................. |
ad. No. 107, 1997 |
|
|
am. No. 54, 1998; No. 55, 2001 |
|
|
rs. No. 119, 2001 |
|
S. 49H................................. |
ad. No. 107, 1997 |
|
|
am. No. 54, 1998 |
|
|
rs. No. 119, 2001 |
|
|
am. No. 25, 2008 |
|
Division 4 |
|
|
Heading to s. 49J.............. |
am. No. 54, 1998 |
|
|
rep. No. 121, 2001 |
|
S. 49J.................................. |
ad. No. 107, 1997 |
|
|
am. Nos. 35 and 54, 1998; No. 31, 2001 |
|
|
rep. No. 121, 2001 |
|
|
ad. No. 119, 2001 |
|
|
am. No. 82, 2010 |
|
S. 49K................................. |
ad. No. 107, 1997 |
|
|
rs. No. 35, 1998 |
|
|
am. No. 54, 1998 |
|
|
rep. No. 121, 2001 |
|
|
ad. No. 119, 2001 |
|
S. 49L.................................. |
ad. No. 107, 1997 |
|
|
am. No. 54, 1998 |
|
|
rs. No. 119, 2001 |
|
|
am. No. 116, 2003; No. 82, 2010 |
|
Note 3 to s. 49L(2)............. |
rep. No. 116, 2003 |
|
Division 5 |
|
|
S. 49M................................. |
ad. No. 107, 1997 |
|
|
rs. No. 119, 2001 |
|
|
rep. No. 25, 2008 |
|
Heading to s. 49N............. |
am. No. 54, 1998 |
|
|
rs. No. 119, 2001 |
|
|
rep. No. 25, 2008 |
|
S. 49N................................. |
ad. No. 107, 1997 |
|
|
am. No. 54, 1998; No. 31, 2001 |
|
|
rs. No. 119, 2001 |
|
|
am. No. 37, 2002 |
|
|
rep. No. 25, 2008 |
|
S. 49P................................. |
ad. No. 107, 1997 |
|
|
am. No. 54, 1998 |
|
|
rep. No. 121, 2001 |
|
|
ad. No. 119, 2001 |
|
|
am. No. 116, 2003 |
|
|
rep. No. 25, 2008 |
|
Note 3 to s. 49P(2)............. |
rep. No. 116, 2003 |
|
Subhead. to s. 49Q(1)....... |
ad. No. 82, 2010 |
|
Subhead. to s. 49Q(2)....... |
ad. No. 82, 2010 |
|
S. 49Q................................. |
ad. No. 119, 2001 |
|
|
am. No. 82, 2010 |
|
Division 6 |
|
|
Div. 6 of Part IV.................. |
ad. No. 154, 2007 |
|
S. 49R................................. |
ad. No. 154, 2007 |
|
|
am. No. 82, 2010 |
|
Part IVA............................... |
ad. No. 107, 1997 |
|
|
rep. No. 119, 2001 |
|
Part V |
|
|
Heading to Part V.............. |
rs. No. 149, 2007 |
|
S. 50.................................... |
am. No. 92, 1981; Nos. 1 and 210, 1992; No. 107, 1997; No. 54, 1998; No. 55, 2001 (as am. by No. 116, 2003); No. 119, 2001; No. 8, 2007 |
|
Heading to s. 51................ |
am. No. 54, 1998 |
|
|
rep. No. 25, 2008 |
|
S. 51.................................... |
am. No. 31, 1977; No. 129, 1983; No. 48, 1994; No. 107, 1997; No. 54, 1998; Nos. 31 and 119, 2001 |
|
|
rep. No. 25, 2008 |
|
Heading to s. 52................ |
am. No. 54, 1998; No. 119, 2001 |
|
S. 52.................................... |
am. No. 129, 1983; No. 1, 1992; No. 107, 1997; No. 54, 1998; Nos. 119 and 121, 2001; No. 100, 2005; No. 149, 2007; No. 25, 2008; No. 82, 2010 |
|
S. 53.................................... |
rep. No. 1, 1992 |
|
S. 54.................................... |
am. No. 129, 1983; No. 1, 1992; No. 107, 1997; No. 54, 1998; No. 119, 2001 |
|
Heading to s. 55................ |
am. No. 54, 1998; No. 119, 2001 |
|
S. 55.................................... |
am. No. 1, 1992; No. 107, 1997; No. 54, 1998; No. 119, 2001 (as am. by No. 100, 2005) |
|
Heading to s. 56................ |
am. No. 54, 1998 |
|
S. 56.................................... |
am. No. 129, 1983; No. 1, 1992; No. 107, 1997; No. 54, 1998; No. 137, 2000 |
|
S. 57.................................... |
am. No. 1, 1992; No. 54, 1998 |
|
S. 58.................................... |
am. No. 1, 1992; No. 107, 1997; No. 54, 1998 |
|
S. 59.................................... |
am. No. 1, 1992; No. 107, 1997; No. 54, 1998; No. 119, 2001; No. 42, 2003 |
|
Heading to s. 60................ |
am. No. 54, 1998 |
|
S. 60.................................... |
am. No. 129, 1983; No. 1, 1992; No. 107, 1997; No. 54, 1998; No. 119, 2001; No. 25, 2008; No. 82, 2010 |
|
S. 61.................................... |
am. No. 129, 1983; No. 107, 1997 |
|
S. 62.................................... |
am. No. 31, 1977; No. 129, 1983; No. 168, 1986; No. 1, 1992; No. 107, 1997; No. 54, 1998; Nos. 31, 119 and 121, 2001 |
|
|
rep. No. 25, 2008 |
|
Part VA |
|
|
Part VA................................ |
ad. No. 149, 2007 |
|
Ss. 62A-62H....................... |
ad. No. 149, 2007 |
|
S. 62J.................................. |
ad. No. 149, 2007 |
|
Part VB |
|
|
Part VB................................ |
ad. No. 105, 2008 |
|
Division 1 |
|
|
Ss. 62K, 62L....................... |
ad. No. 105, 2008 |
|
S. 62M................................. |
ad. No. 105, 2008 |
|
|
am. No. 82, 2010 |
|
S. 62N................................. |
ad. No. 105, 2008 |
|
Ss. 62P, 62Q...................... |
ad. No. 105, 2008 |
|
S. 62R................................. |
ad. No. 105, 2008 |
|
|
am. No. 82, 2010 |
|
S. 62S................................. |
ad. No. 105, 2008 |
|
|
am. No. 131, 2009 |
|
S. 62T................................. |
ad. No. 105, 2008 |
|
|
am. No. 82, 2010 |
|
Ss. 62U-62Z....................... |
ad. No. 105, 2008 |
|
Ss. 62ZA-62ZC.................. |
ad. No. 105, 2008 |
|
S. 62ZD............................... |
ad. No. 105, 2008 |
|
|
rs. No. 82, 2010 |
|
Ss. 62ZE-62ZH.................. |
ad. No. 105, 2008 |
|
S. 62ZI................................ |
ad. No. 105, 2008 |
|
|
am. No. 82, 2010 |
|
Ss. 62ZJ-62ZM.................. |
ad. No. 105, 2008 |
|
Heading to s. 62ZN........... |
am. No. 103, 2010 |
|
S. 62ZN............................... |
ad. No. 105, 2008 |
|
|
am. No. 103, 2010 |
|
S. 62ZO.............................. |
ad. No. 105, 2008 |
|
Division 2 |
|
|
S. 62ZP............................... |
ad. No. 105, 2008 |
|
S. 62ZQ.............................. |
ad. No. 105, 2008 |
|
|
am. No. 82, 2010 |
|
Ss. 62ZR-62ZT.................. |
ad. No. 105, 2008 |
|
Division 3 |
|
|
S. 62ZU............................... |
ad. No. 105, 2008 |
|
S. 62ZV............................... |
ad. No. 105, 2008 |
|
|
am. No. 82, 2010 |
|
Part VC |
|
|
Part VC............................... |
ad. No. 105, 2008 |
|
Division 1 |
|
|
S. 62ZW.............................. |
ad. No. 105, 2008 |
|
|
am. No. 82, 2010 |
|
Ss. 62ZX-62ZZ.................. |
ad. No. 105, 2008 |
|
S. 62ZZA............................. |
ad. No. 105, 2008 |
|
|
am. No. 82, 2010 |
|
S. 62ZZB............................. |
ad. No. 105, 2008 |
|
|
rep. No. 82, 2010 |
|
Division 2 |
|
|
S. 62ZZC............................ |
ad. No. 105, 2008 |
|
|
am. No. 82, 2010 |
|
S. 62ZZD............................ |
ad. No. 105, 2008 |
|
S. 62ZZE............................. |
ad. No. 105, 2008 |
|
|
am. No. 82, 2010 |
|
Division 3 |
|
|
Ss. 62ZZF-62ZZJ.............. |
ad. No. 105, 2008 |
|
|
am. No. 82, 2010 |
|
S. 62ZZK............................. |
ad. No. 105, 2008 |
|
S. 62ZZKA.......................... |
ad. No. 42, 2009 |
|
S. 62ZZL............................. |
ad. No. 105, 2008 |
|
S. 62ZZM............................ |
ad. No. 105, 2008 |
|
|
am. No. 42, 2009; No. 82, 2010 |
|
Division 4 |
|
|
S. 62ZZN............................ |
ad. No. 105, 2008 |
|
S. 62ZZO............................ |
ad. No. 105, 2008 |
|
|
am. No. 82, 2010 |
|
S. 62ZZP............................. |
ad. No. 105, 2008 |
|
|
am. No. 42, 2009; No. 82, 2010 |
|
S. 62ZZQ............................ |
ad. No. 105, 2008 |
|
|
am. No. 82, 2010 |
|
Ss. 62ZZR-62ZZT............. |
ad. No. 105, 2008 |
|
S. 62ZZU............................ |
ad. No. 105, 2008 |
|
|
am. No. 82, 2010 |
|
Division 5 |
|
|
Heading to Div. 5 of Part VC |
rs. No. 103, 2010 |
|
Heading to s. 62ZZV......... |
am. No. 103, 2010 |
|
S. 62ZZV............................. |
ad. No. 105, 2008; No. 103, 2010 |
|
Part VI |
|
|
Part VI ................................ |
rs. No. 31, 1977 |
|
S. 63.................................... |
rs. No. 31, 1977 |
|
|
am. No. 129, 1983; No. 107, 1997; No. 54, 1998; No. 119, 2001; No. 37, 2002; No. 38, 2005; No. 25, 2008 |
|
S. 64.................................... |
rep. No. 31, 1977 |
|
|
ad. No. 129, 1983 |
|
|
am. No. 107, 1997; No. 54, 1998; No. 25, 2008 |
|
Part VII |
|
|
Division 1 |
|
|
Div. 1 of Part VII................. |
ad. No. 35, 1998 |
|
S. 65.................................... |
rep. No. 31, 1977 |
|
|
ad. No. 35, 1998 |
|
|
am. No. 54, 1998; No. 25, 2008 |
|
S. 66.................................... |
rep. No. 31, 1977 |
|
|
ad. No. 35, 1998 |
|
|
am. No. 55, 2001 |
|
Division 2 |
|
|
Div. 2 of Part VII................. |
ad. No. 35, 1998 |
|
S. 67.................................... |
rep. No. 31, 1977 |
|
|
ad. No. 35, 1998 |
|
S. 68.................................... |
rep. No. 31, 1977 |
|
|
ad. No. 35, 1998 |
|
|
am. No. 54, 1998; No. 154, 2007 |
|
S. 69.................................... |
rep. No. 31, 1977 |
|
|
ad. No. 35, 1998 |
|
S. 70.................................... |
rep. No. 31, 1977 |
|
|
ad. No. 35, 1998 |
|
|
am. No. 54, 1998; No. 154, 2007 |
|
Ss. 71-73............................ |
rep. No. 31, 1977 |
|
|
ad. No. 35, 1998 |
|
Division 3 |
|
|
Heading to Div. 3 of ......... |
rs. No. 54, 1998 |
|
Div. 3 of Part VII................. |
ad. No. 35, 1998 |
|
Heading to s. 74................ |
am. No. 54, 1998 |
|
S. 74.................................... |
rep. No. 31, 1977 |
|
|
ad. No. 35, 1998 |
|
|
am. No. 54, 1998; No. 25, 2008 |
|
S. 75.................................... |
rep. No. 31, 1977 |
|
|
ad. No. 35, 1998 |
|
|
am. No. 54, 1998; No. 55, 2001; No. 154, 2007 |
|
S. 76.................................... |
rep. No. 31, 1977 |
|
|
ad. No. 35, 1998 |
|
|
am. No. 54, 1998; No. 25, 2008 |
|
Division 4 |
|
|
Div. 4 of Part VII................. |
ad. No. 35, 1998 |
|
Subdivision A |
|
|
Heading to Subdiv. A of.... |
rs. No. 54, 1998 |
|
Heading to s. 77................ |
am. No. 54, 1998 |
|
S. 77.................................... |
rep. No. 31, 1977 |
|
|
ad. No. 35, 1998 |
|
|
am. No. 54, 1998 |
|
S. 78.................................... |
rep. No. 31, 1977 |
|
|
ad. No. 35, 1998 |
|
|
am. No. 54, 1998; No. 25, 2008 |
|
Note to s. 78(2).................. |
am. No. 46, 2011 |
|
Subdivision B |
|
|
Heading to s. 79................ |
am. No. 54, 1998 |
|
S. 79.................................... |
rep. No. 31, 1977 |
|
|
ad. No. 35, 1998 |
|
|
am. No. 54, 1998 |
|
S. 80.................................... |
rep. No. 31, 1977 |
|
|
ad. No. 35, 1998 |
|
|
am. No. 54, 1998; No. 137, 2000 |
|
Heading to s. 81................ |
am. No. 54, 1998 |
|
S. 81.................................... |
rep. No. 31, 1977 |
|
|
ad. No. 35, 1998 |
|
|
am. No. 54, 1998 |
|
Heading to s. 82................ |
am. No. 54, 1998 |
|
S. 82.................................... |
rep. No. 31, 1977 |
|
|
ad. No. 35, 1998 |
|
|
am. No. 54, 1998; No. 137, 2000 |
|
Ss. 83, 84............................ |
rep. No. 31, 1977 |
|
|
ad. No. 35, 1998 |
|
|
am. No. 54, 1998 |
|
S. 85.................................... |
rep. No. 31, 1977 |
|
|
ad. No. 35, 1998 |
|
|
am. No. 54, 1998; No. 42, 2003 |
|
Heading to s. 86................ |
am. No. 54, 1998 |
|
S. 86.................................... |
rep. No. 31, 1977 |
|
|
ad. No. 35, 1998 |
|
|
am. No. 54, 1998 |
|
Subdivision C |
|
|
S. 87.................................... |
rep. No. 31, 1977 |
|
|
ad. No. 35, 1998 |
|
Division 5 |
|
|
Div. 5 of Part VII................. |
ad. No. 35, 1998 |
|
S. 88.................................... |
rep. No. 31, 1977 |
|
|
ad. No. 35, 1998 |
|
|
am. No. 54, 1998 |
|
S. 89.................................... |
rep. No. 157, 1976 |
|
|
ad. No. 35, 1998 |
|
Ss. 90, 91............................ |
rep. No. 31, 1977 |
|
|
ad. No. 35, 1998 |
|
S. 92.................................... |
rep. No. 31, 1977 |
|
|
ad. No. 35, 1998 |
|
|
am. No. 55, 2001 |
|
Ss. 92A-92C....................... |
ad. No. 35, 1998 |
|
S. 92D................................. |
ad. No. 35, 1998 |
|
|
am. No. 54, 1998 |
|
Ss. 92E, 92F....................... |
ad. No. 35, 1998 |
|
Heading to s. 92G............. |
am. No. 54, 1998 |
|
S. 92G................................. |
ad. No. 35, 1998 |
|
|
am. No. 54, 1998 |
|
Heading to s. 92H............. |
am. No. 54, 1998 |
|
S. 92H................................. |
ad. No. 35, 1998 |
|
|
am. No. 54, 1998 |
|
S. 92J.................................. |
ad. No. 35, 1998 |
|
Ss. 92K-92M...................... |
ad. No. 35, 1998 |
|
|
am. No. 54, 1998 |
|
Ss. 92N-92P....................... |
ad. No. 35, 1998 |
|
Ss. 92Q, 92R...................... |
ad. No. 35, 1998 |
|
|
am. No. 54, 1998; No. 25, 2008 |
|
S. 92S................................. |
ad. No. 35, 1998 |
|
|
am. No. 25, 2008 |
|
Division 6 |
|
|
Heading to Div. 6 of ......... |
ad. No. 35, 1998 |
|
S. 93.................................... |
am. No. 31, 1977; No. 129, 1983; No. 107, 1997; Nos. 35 and 54, 1998; No. 119, 2001; No. 25, 2008; No. 46, 2011 |
|
Division 7 |
|
|
Heading to Div. 7 of ......... |
ad. No. 35, 1998 |
|
S. 94.................................... |
am. No. 129, 1983; No. 107, 1997 |
|
|
rs. No. 35, 1998 |
|
|
am. No. 119, 2001 |
|
S. 94A................................. |
ad. No. 35, 1998 |
|
|
am. No. 54, 1998 |
|
S. 95.................................... |
am. No. 107, 1997 |
|
|
rs. No. 35, 1998 |
|
S. 96.................................... |
am. No. 54, 1998 |
|
|
rs. No. 35, 1998 |
|
|
am. No. 54, 1998 |
|
S. 97.................................... |
rs. No. 35, 1998 |
|
|
am. No. 54, 1998 |
|
Heading to s. 98................ |
am. No. 107, 1997 |
|
S. 98.................................... |
am. No. 107, 1997 |
|
Part VIII |
|
|
S. 99.................................... |
rs. No. 119, 2001 |
|
S. 100.................................. |
am. No. 107, 1997 |
|
S. 101.................................. |
rep. No. 31, 1977 |
|
Heading to s. 102.............. |
rs. No. 119, 2001 |
|
S. 102.................................. |
am. No. 92, 1981; No. 119, 2001 |
|
Heading to s. 103.............. |
am. No. 149, 2007 |
|
S. 103.................................. |
am. No. 92, 1981; No. 149, 2007 |
|
Part IX |
|
|
Part IX................................. |
rep. No. 54, 1998 |
|
|
ad. No. 25, 2008 |
|
Division 1 |
|
|
Div. 1 of Part IX.................. |
ad. No. 82, 2010 |
|
Ss. 103A-103H................... |
ad. No. 82, 2010 |
|
Ss. 103J-103M................... |
ad. No. 82, 2010 |
|
Heading to s. 103N........... |
am. No. 82, 2010 |
|
S. 103N............................... |
ad. No. 82, 2010 |
|
|
am. No. 82, 2010 |
|
Division 2 |
|
|
Heading to Div. 2 of Part IX..................................... |
ad. No. 82, 2010 |
|
S. 104.................................. |
rep. No. 129, 1983 |
|
|
ad. No. 25, 2008 |
|
|
am. No. 82, 2010 |
|
S. 105.................................. |
am. No. 31, 1977; No. 129, 1983; No. 1, 1992; No. 107, 1997 |
|
|
rep. No. 54, 1998 |
|
|
ad. No. 25, 2008 |
|
|
am. No. 105, 2008 |
|
S. 105A............................... |
ad. No. 31, 1977 |
|
|
am. No. 129, 1983; No. 107, 1997 |
|
|
rep. No. 54, 1998 |
|
S. 106.................................. |
am. No. 129, 1983; No. 107, 1997 |
|
|
rep. No. 54, 1998 |
|
|
ad. No. 25, 2008 |
|
S. 107.................................. |
am. No. 31, 1977; No. 129, 1983; No. 107, 1997 |
|
|
rep. No. 54, 1998 |
|
|
ad. No. 25, 2008 |
|
S. 108.................................. |
am. No. 31, 1977; No. 129, 1983 |
|
|
rep. No. 54, 1998 |
|
|
ad. No. 25, 2008 |
|
S. 109.................................. |
rs. No. 31, 1977 |
|
|
am. No. 129, 1983; No. 107, 1997 |
|
|
rep. No. 54, 1998 |
|
Ss. 110-112........................ |
rep. No. 31, 1977 |
|
S. 113.................................. |
am. No. 31, 1977; No. 129, 1983 |
|
|
rep. No. 16, 1989 |
|
|
ad. No. 107, 1997 |
|
|
am. No. 54, 1998; No. 31, 2001 |
|
|
rep. No. 123, 2001 |
|
S. 114.................................. |
am. No. 54, 1998 |
|
|
rep. No. 119, 2001 |
|
Part X |
|
|
Heading to s. 115.............. |
am. No. 119, 2001 |
|
S. 115.................................. |
rs. No. 31, 1977 |
|
|
am. No. 129, 1983; No. 107, 1997; No. 54, 1998; Nos. 119 and 121, 2001; No. 36, 2003 |
|
Ss. 115AA, 115AB.............. |
ad. No. 149, 2007 |
|
S. 115A............................... |
ad. No. 31, 1977 |
|
|
am. No. 107, 1997; No. 54, 1998; Nos. 119 and 121, 2001; No. 36, 2003; No. 149, 2007 |
|
S. 116.................................. |
am. No. 107, 1997; No. 54, 1998 |
|
|
rs. No. 119, 2001 |
|
|
am. No. 105, 2008 |
|
S. 116A............................... |
ad. No. 119, 2001 |
|
|
am. Nos. 25 and 105, 2008; No. 75, 2009; No. 82, 2010 |
|
Note 1 to s. 116A(1)........... |
ad. No. 105, 2008 |
|
Notes 2, 3 to s. 116A(1)..... |
ad. No. 105, 2008 |
|
|
am. No. 82, 2010 |
|
Note to s. 116A(2).............. |
ad. No. 105, 2008 |
|
S. 117.................................. |
am. No. 107, 1997; No. 54, 1998 |
|
|
rs. No. 119, 2001 |
|
|
am. No. 37, 2002 |
|
S. 117A............................... |
ad. No. 1, 1992 |
|
|
am. No. 107, 1997; Nos. 31 and 121, 2001 |
|
|
rep. No. 119, 2001 |
|
Note to s. 117A(5).............. |
ad. No. 31, 2001 |
|
|
rep. No. 119, 2001 |
|
S. 118.................................. |
am. No. 31, 1977; No. 107, 1997; No. 54, 1998; No. 119, 2001; No. 37, 2002; No. 149, 2007 |
|
S. 119.................................. |
am. No. 129, 1983; No. 48, 1994; No. 107, 1997; Nos. 48 and 54, 1998 |
|
|
rep. No. 119, 2001 |
|
Heading to s. 120.............. |
am. No. 35, 1999 |
|
S. 120.................................. |
am. No. 107, 1997; No. 35, 1998; No. 119, 2001 |
|
S. 121.................................. |
am. No. 107, 1997; Nos. 35 and 54, 1998 |
|
S. 122.................................. |
am. No. 54, 1998; No. 119, 2001 |
|
Heading to s. 123.............. |
am. No. 121, 2001 |
|
S. 123.................................. |
am. No. 129, 1983; No. 1, 1992; Nos. 35 and 54, 1998; Nos. 119 and 121, 2001 |
|
S. 124.................................. |
am. No. 31, 1977; No. 54, 1998 |
|
S. 125.................................. |
am. No. 129, 1983 |
|
|
rs. No. 54, 1998 |
|
S. 126.................................. |
rs. No. 31, 1977 |
|
|
am. No. 99, 1987; No. 6, 1992 |
|
|
rs. No. 107, 1997 |
|
|
rep. No. 54, 1998 |
|
|
ad. No. 119, 2001 |
|
S. 127.................................. |
am. No. 31, 1977; No. 177, 1981 (as am. by No. 26, 1982); No. 129, 1983 (as am. by No. 72, 1984); No. 107, 1997 |
|
|
rep. No. 54, 1998 |
|
|
ad. No. 119, 2001 |
|
S. 127A............................... |
ad. No. 105, 2008 |
|
Heading to s. 128.............. |
rs. No. 119, 2001 |
|
S. 128.................................. |
am. No. 92, 1981; No. 129, 1983; No. 16, 1989; No. 1, 1992; No. 107, 1997; No. 35, 1998; No. 137, 2000; Nos. 31, 55, 119 and 121, 2001 |
|
S. 128A............................... |
ad. No. 119, 2001 |
|
|
am. No. 25, 2008 |
|
S. 129.................................. |
am. No. 129, 1983 |
|
S. 129A............................... |
ad. No. 129, 1983 |
|
|
am. No. 119, 2001; No. 25, 2008 |
|
S. 129B............................... |
ad. No. 129, 1983 |
|
|
rep. No. 107, 1997 |
|
Heading to s. 129C........... |
am. No. 119, 2001 |
|
S. 129C............................... |
ad. No. 144, 1995 |
|
|
am. No. 62, 1997; No. 119, 2001 |
|
S. 129D............................... |
ad. No. 144, 1995 |
|
|
am. No. 54, 1998; No. 119, 2001 |
|
|
rs. No. 75, 2009 |
|
S. 129E............................... |
ad. No. 105, 2008 |
|
S. 130.................................. |
am. No. 107, 1997; No. 54, 1998 |
|
S. 131.................................. |
am. No. 1, 1992; No. 119, 2001 |
|
Ss. 131A, 131B................... |
ad. No. 105, 2008 |
|
S. 132.................................. |
am. No. 31, 1977; No. 129, 1983; No. 107, 1997; Nos. 48 and 54, 1998; No. 121, 2001 |
|
Schedule ........................... |
am. No. 31, 1977; No. 129, 1983; No. 54, 1998 |
|
|
rep. No. 35, 1999 |
|
Schedule 1 |
|
|
Schedule 1......................... |
ad. No. 105, 2008 |
|
Part 1 |
|
|
Cc. 1-5............................... |
ad. No. 105, 2008 |
|
Part 2 |
|
|
Cc. 6-9............................... |
ad. No. 105, 2008 |
Table A
Application, saving or transitional provisions
Financial Laws Amendment Act 1997 (No. 107, 1997)
Schedule 5
17 Saving
A delegation that was in force under section 19A of the Insurance Act 1973 immediately before the commencement of item 16 continues in force as if it had been given under the section substituted by that item.
26 Saving
An approval that was in force under subsection 30(2) of the Insurance Act 1973 immediately before the commencement of item 25 continues in force for the purposes of this Act (other than Parts IVA, V and X) as if it had been duly given under the subsection substituted by that item.
123 Application
The amendments made by items 120, 121 and 122 take effect immediately after the commencement of the amendments made by the other items.
Insurance Laws Amendment Act 1998 (No. 35, 1998)
Schedule 1
30 Application--amendments relating to accounts and statements
(1) Despite the amendments of the Insurance Act 1973 made by this Schedule, that Act continues to apply, in relation to accounts and statements that are required to be lodged under subsection 44(1) or 49J(1) of that Act in respect of a financial year of a body corporate that ended before the commencement of this item, as if those amendments had not been made.
(2) Despite the amendments of the Insurance Act 1973 made by this Schedule, that Act continues to apply, in relation to statements that are required to be lodged under subsection 44(6) of that Act in respect of a quarter that ended before the commencement of this item, as if those amendments had not been made.
31 Application--section 34 of the Insurance Act 1973
The amendments of section 34 of the Insurance Act 1973 made by this Schedule apply to applications made after the commencement of this item.
32 Transitional--regulations under section 44 of the Insurance Act 1973
(1) This item applies to regulations that were in force for the purposes of paragraph 44(2)(m) of the Insurance Act 1973 immediately before the commencement of this item.
(2) The regulations have effect, after the commencement of this item, as if they had been made for the purposes of paragraph 44(1)(b) of the Insurance Act 1973.
33 Transitional--determinations under section 44 of the Insurance Act 1973
(1) This item applies to a determination that was in force for the purposes of paragraph 44(2)(m) of the Insurance Act 1973 immediately before the commencement of this item.
(2) The determination has effect, after the commencement of this item, as if it had been made for the purposes of paragraph 44(1)(a) of the Insurance Act 1973.
34 Transitional--determinations under section 49J of the Insurance Act 1973
(1) This item applies to a determination that was in force for the purposes of paragraph 49J(2)(d) of the Insurance Act 1973 immediately before the commencement of this item.
(2) The determination has effect, after the commencement of this item, as if it had been made for the purposes of subsection 49J(1) of the Insurance Act 1973.
Schedule 2
25 Transitional--statutory deposit
(1) This item applies to any securities held by the Treasurer in accordance with paragraph 1 of the Schedule to the Insurance Act 1973 immediately before the commencement of this item.
(2) Sections 92Q and 92S of the Insurance Act 1973 have effect as if those securities had been deposited under section 92Q of that Act, immediately after the commencement of this item, by:
(a) Lloyd's; or
(b) if a company is nominated in a written notice given by Lloyd's to the Commissioner--that company.
26 Transitional--agent and address
(1) This item applies to anything done by Lloyd's in accordance with paragraph 6 or 7 of the Schedule to the Insurance Act 1973 before the commencement of this item.
(2) The Insurance Act 1973 has effect, after the commencement of this item, as if those things had been done by Lloyd's in accordance with section 95 or 96, as the case may be, of that Act.
27 Transitional--exercise of approval powers between Royal Assent and commencement
If:
(a) in accordance with section 4 of the Acts Interpretation Act 1901, an instrument is made under section 68 or 70 of the Insurance Act 1973 before the commencement of item 5; and
(b) the instrument is expressed to confer power on the Commissioner to give an approval;
the power may be exercised, and anything may be done for the purpose of enabling the exercise of the power, before the commencement of item 5 as if the instrument had come into operation before the commencement of item 5.
Financial Sector Reform (Amendments and Transitional Provisions) Act (No. 1) 1999 (No. 44, 1999)
Schedule 8
1 Definitions
(1) In this Part:
AFIC means the Australian Financial Institutions Commission.
AFIC Code means any of the following Codes of a State or Territory:
(a) the AFIC (NSW) Code of New South Wales;
(b) the AFIC (Victoria) Code of Victoria;
(c) the AFIC (Queensland) Code of Queensland;
(d) the AFIC (Western Australia) Code of Western Australia;
(e) the AFIC (South Australia) Code of South Australia;
(f) the AFIC (Tasmania) Code of Tasmania;
(g) the AFIC (ACT) Code of the Australian Capital Territory;
(h) the AFIC (NT) Code of the Northern Territory.
APRA means the Australian Prudential Regulation Authority.
APRA Act means the Australian Prudential Regulation Authority Act 1998.
APRA employee means a person appointed under section 45 of the APRA Act.
ASIC means the Australian Securities and Investments Commission.
FIC body means a body that is a society, or a special services provider, as defined in section 3 of any of the Financial Institutions Codes.
Financial Institutions Code means any of the following Codes of a State or Territory:
(a) the Financial Institutions (NSW) Code of New South Wales;
(b) the Financial Institutions (Victoria) Code of Victoria;
(c) the Financial Institutions (Queensland) Code of Queensland;
(d) the Financial Institutions (Western Australia) Code of Western Australia;
(e) the Financial Institutions (South Australia) Code of South Australia;
(f) the Financial Institutions (Tasmania) Code of Tasmania;
(g) the Financial Institutions (ACT) Code of the Australian Capital Territory;
(h) the Financial Institutions (NT) Code of the Northern Territory.
Friendly Societies Code means any of the following Codes of a State or Territory:
(a) the Friendly Societies (NSW) Code of New South Wales;
(b) the Friendly Societies (Victoria) Code of Victoria;
(c) the Friendly Societies (Queensland) Code of Queensland;
(d) the Friendly Societies (Western Australia) Code of Western Australia;
(e) the Friendly Societies (South Australia) Code of South Australia;
(f) the Friendly Societies (Tasmania) Code of Tasmania;
(g) the Friendly Societies (ACT) Code of the Australian Capital Territory;
(h) the Friendly Societies (NT) Code of the Northern Territory.
friendly society means a body that is a society for the purposes of any of the Friendly Societies Codes.
SSA means any of the following:
(a) the New South Wales Financial Institutions Commission;
(b) the Victorian Financial Institutions Commission;
(c) the Queensland Office of Financial Supervision;
(d) the Western Australian Financial Institutions Authority;
(e) the South Australian Office of Financial Supervision;
(f) the Tasmanian Office of Financial Supervision;
(g) the Registrar of Financial Institutions of the Australian Capital Territory;
(h) the Territory Supervisory Authority of the Northern Territory.
State or Territory employee means a person who, immediately before the transfer date, is:
(a) an officer, employee, or member of the staff of, AFIC or an SSA; or
(b) the Executive Director of AFIC; or
(c) the holder of any other statutory office within AFIC or an SSA, other than a statutory office of member (including a Chair or Deputy Chair, however described) of, or of the governing body of, AFIC or an SSA; or
(d) an officer, employee, or member of the staff of, a State or Territory, or an authority of a State or Territory, whose duties consist of or include assisting AFIC or an SSA in the performance of its functions or the exercise of its powers.
Territory means the Australian Capital Territory or the Northern Territory.
transfer agreement means an agreement entered into:
(a) by or on behalf of the Treasurer; and
(b) by or on behalf of a Minister of a State or Territory, or 2 or more such Ministers;
that provides for matters connected with the transfer of staff, assets or liabilities from AFIC or an SSA to APRA or ASIC.
transfer date has the meaning given by section 2 (which is at the front of this Act).
transferring body means a body that, immediately before the transfer date, was:
(a) an FIC body; or
(b) a friendly society.
(2) In this Part, a reference to a transfer agreement determining or specifying a person, thing or other matter includes a reference to a person or persons determining or specifying that person, thing or matter, as permitted by that transfer agreement.
2 Transfer of State or Territory employees to APRA
(1) A transfer agreement may determine that specified State or Territory employees become APRA employees on a specified date, not being a date before the transfer date. In this Division, the date so specified is the agreed date in relation to the employees concerned.
Note: Employees may be specified by name, by inclusion in a specified class, or in some other way.
(2) The agreement has effect accordingly, to the extent that it is within the Commonwealth's legislative power to give the agreement that effect.
3 Terms and conditions of transferred staff
(1) APRA is to determine the terms and conditions applying to a person who becomes an APRA employee as mentioned in item 2 as if the person had actually been appointed under section 45 of the APRA Act. The terms and conditions of employment must not be less favourable than those that applied to the person immediately before the agreed date.
(2) The person is entitled to retain, as an APRA employee, all the benefits that had accrued to the person in respect of his or her length of State or Territory service up to the agreed date, as if those benefits had accrued in respect of the person's position as an APRA employee. For this purpose, the person's State or Territory service is:
(a) the person's service as a State or Territory employee; and
(b) the person's other service (if any) that, immediately before the person becoming an APRA employee, counted as service under the terms of that person's employment as a State or Territory employee.
(3) The person's service as an APRA employee is taken, for all purposes, to have been continuous with the person's service, immediately before the agreed date, as a State or Territory employee.
4 Statement of accrued benefits
(1) A transfer agreement may determine that APRA is to be given a statement of the benefits to which a person who becomes an APRA employee as mentioned in item 2 has an accrued entitlement in respect of his or her position as a State or Territory employee.
(2) In any proceedings relating to subitem 3(2), the statement is prima facie evidence of the matters set out in the statement.
(3) Item 2 has effect in relation to the person even if the statement is not given as required.
5 Transfer of assets
(1) A transfer agreement may determine that all or any of the following things happen on a specified date, not being a date before the transfer date:
(a) specified assets vest in APRA, or in ASIC, without any conveyance, transfer or assignment;
(b) specified instruments in relation to specified assets continue to have effect after the assets vest in APRA, or in ASIC, as if specified references in the instruments were references to APRA, or to ASIC, as the case requires;
(c) APRA or ASIC becomes the previous owner's successor in law in relation to specified assets immediately after the assets vest in APRA, or in ASIC.
Note: Assets or instruments may be specified by description, by inclusion in a specified class or in some other way.
(2) The agreement has effect accordingly, to the extent that it is within the Commonwealth's legislative power to give the agreement that effect.
(3) This item does not prevent assets being transferred to APRA or ASIC otherwise than in accordance with a transfer agreement.
(4) In this item:
assets includes records.
6 Transfer of liabilities
(1) A transfer agreement may determine that all or any of the following things happen on a specified date, not being a date before the transfer date:
(a) specified liabilities vest in APRA, or in ASIC;
(b) specified instruments in relation to specified liabilities continue to have effect after the liabilities vest in APRA, or in ASIC, as if specified references in the instruments were references to APRA, or to ASIC, as the case requires;
(c) APRA or ASIC becomes the previously liable person's successor in law in relation to specified liabilities immediately after the liabilities vest in APRA, or in ASIC.
Note: Liabilities or instruments may be specified by description, by inclusion in a specified class or in some other way.
(2) The agreement has effect accordingly, to the extent that it is within the Commonwealth's legislative power to give the agreement that effect.
(3) This item does not prevent liabilities being transferred to APRA or ASIC otherwise than in accordance with a transfer agreement.
7 Certain bodies taken to have authorities to carry on banking business
(1) This item applies to the following bodies:
(a) all bodies that were FIC bodies immediately before the transfer date;
(b) The Cairns Cooperative Weekly Penny Savings Bank Limited (CCWPSBL), but only if a determination under subitem (2) is in force immediately before the transfer date.
Note: The Cairns Cooperative Weekly Penny Savings Bank Limited is a body incorporated under the Financial Intermediaries Act 1996 of Queensland.
(2) APRA may, in writing, determine that this item applies to CCWPSBL, but only if the Treasurer and the Queensland Minister responsible for the administration of the Financial Intermediaries Act 1996 of Queensland have agreed that CCWPSBL should be covered by the Banking Act 1959 from the transfer date.
(3) On the transfer date, a body to which this item applies is taken to have been granted an authority under subsection 9(3) of the Banking Act 1959.
(4) APRA may, in writing, determine conditions to which the authority is subject. The determination has effect accordingly.
(5) The authority may be dealt with under the Banking Act 1959 as if it had actually been granted under subsection 9(3) of that Act.
(6) Conditions determined under subitem (4) may be dealt with under the Banking Act 1959 as if they were imposed under subsection 9(4) of that Act.
(7) Subsection 9(7) of the Banking Act 1959 does not apply to:
(a) the grant of an authority that is taken to have occurred under subitem (3); or
(b) the imposition of conditions on that authority under subitem (4).
(8) APRA must give the body written notice of the following:
(a) the fact that the body is taken, by subitem (3), to have been granted an authority under subsection 9(3) of the Banking Act 1959; and
(b) the determination under subitem (4) of conditions to which the authority is subject.
(9) APRA may also give notice of a matter referred to in paragraph (8)(a) or (b) in such other way as APRA considers appropriate.
8 Bodies taken to have consent for use of certain expressions
(1) A body that, immediately before the transfer date:
(a) was a society, services corporation or association as defined in section 3 of a Financial Institutions Code; and
(b) was trading or carrying on business (within the meaning of section 144 of that Code) under a name or title of which words, abbreviations or symbols covered by paragraph 144(2)(a) of that Code formed part;
is taken, on the transfer date, to have been granted a consent under section 66 of the Banking Act 1959 covering the body trading or carrying on business under that name or title. The consent may be dealt with under that Act as if it had actually been granted under section 66 of that Act.
(2) An exemption in force under subsection 144(4) of a Financial Institutions Code immediately before the transfer date continues to have effect from that date, and may be dealt with, as if it were a consent under section 66 of the Banking Act 1959. Any conditions to which the exemption was subject immediately before the transfer date are to be taken, from that date, to be, and may be dealt with as if they were, conditions applying under section 66 of the Banking Act 1959.
9 Unclaimed money
(1) This item applies to each body that is taken by subitem 7(3) to have been granted an authority under subsection 9(3) of the Banking Act 1959.
(2) An amount of money in respect of which notification action has been taken before the transfer date by a body to which this item applies under an unclaimed money law is not unclaimed moneys for the purposes of section 69 of the Banking Act 1959.
(3) For the avoidance of doubt, it is declared that, subject to subitem (2), an amount of money that, on the transfer date, satisfies the description of unclaimed moneys in section 69 of the Banking Act 1959 is unclaimed moneys for the purposes of that section even though, for any reason, the amount was not, immediately before that date, unclaimed money, or unclaimed moneys, within the meaning of an unclaimed money law.
(4) If, but for this item, a body to which this item applies would be required to deliver a Commonwealth unclaimed money statement on or before the 31 March next following the transfer date, then:
(a) the body may, but is taken not to be required to, deliver a Commonwealth unclaimed money statement on or before that 31 March; and
(b) if the body does not deliver a Commonwealth unclaimed money statement on or before that 31 March--the amounts that would have been included in that statement must (if they are still unclaimed money) be included in the next Commonwealth unclaimed money statement delivered by the body.
(5) The Treasurer, or an authorized officer (within the meaning of section 69 of the Banking Act 1959), may, in relation to a specified body to which this item applies, determine in writing that subsection 69(5) of the Banking Act 1959 has effect in relation to the first Commonwealth unclaimed money statement delivered by the body after the transfer date as if it required the amount shown in the statement to be paid to the Commonwealth:
(a) on a specified date or at the end of a specified period; or
(b) in accordance with a specified scheme for payment by instalments.
Note: A body may be specified by name, by inclusion in a specified class or in some other way.
(6) A person must not, under subitem (5), make a determination that would result in an amount being required to be paid to the Commonwealth more than 5 years after the date on which the amount would otherwise have had to be paid to the Commonwealth.
(7) A determination under subitem (5) has effect accordingly.
(8) In this item:
Commonwealth unclaimed money statement means a statement under subsection 69(3) of the Banking Act 1959.
notification action means:
(a) in relation to the unclaimed money law of Victoria, Queensland, South Australia, Tasmania, the Australian Capital Territory or the Northern Territory--enter, or enter particulars of, unclaimed money, or unclaimed moneys, (within the meaning of that law) in a register in accordance with that law; or
(b) in relation to the unclaimed money law of New South Wales--lodge a return with the Chief Commissioner (within the meaning of that law) relating to unclaimed money (within the meaning of that law) in accordance with that law; or
(c) in relation to the unclaimed money law of Western Australia--notify the Treasurer of particulars of unclaimed money (within the meaning of that law) in accordance with that law.
unclaimed money law means:
(a) the Unclaimed Money Act 1995 of New South Wales;
(b) the Unclaimed Moneys Act 1962 of Victoria;
(c) Part 8 of the Public Trustee Act 1978 of Queensland;
(d) the Unclaimed Money Act 1990 of Western Australia;
(e) the Unclaimed Moneys Act 1891 of South Australia;
(f) the Unclaimed Moneys Act 1918 of Tasmania;
(g) the Unclaimed Moneys Act 1950 of the Australian Capital Territory;
(h) the Companies (Unclaimed Assets and Moneys) Act of the Northern Territory.
Note: For the transitional provisions relating to the operation of the Financial Sector (Shareholdings) Act 1998, see the amendment made by item 45 of Schedule 7 to this Act.
22 Regulations may deal with transitional, saving or application matters
(1) The regulations may deal with matters of a transitional, saving or application nature relating to:
(a) the transition from the application of provisions of the replaced legislation to the application of provisions of the Banking Act 1959, the Life Insurance Act 1995, the Financial Sector (Transfers of Business) Act 1999, the Financial Sector (Shareholdings) Act 1998 or the Australian Prudential Regulation Authority Act 1998; or
(b) the transition, for The Cairns Cooperative Weekly Penny Savings Bank Limited, from the application of provisions of the Financial Intermediaries Act 1996 of Queensland to the application of provisions of any of the Acts referred to in paragraph (a); or
(c) the amendments and repeals made by the Schedules to this Act.
(2) Without limiting subitem (1), the regulations may provide for a matter to be dealt with, wholly or partly, in any of the following ways:
(a) by applying (with or without modifications) to the matter:
(i) provisions of a law of the Commonwealth, or of a State or Territory; or
(ii) provisions of a repealed or amended law of the Commonwealth, or of a State or Territory, in the form that those provisions took before the repeal or amendment; or
(iii) a combination of provisions referred to in subparagraphs (i) and (ii);
(b) by otherwise specifying rules for dealing with the matter;
(c) by specifying a particular consequence of the matter, or of an outcome of the matter, for the purposes of a law of the Commonwealth.
(3) Without limiting subitems (1) and (2), the regulations may provide for the continued effect, for the purposes of a provision of a law of the Commonwealth, of a thing done or instrument made, or a class of things done or instruments made, before the transfer date under or for the purposes of a provision of a law of a State or Territory. In the case of an instrument or class of instruments, the regulations may provide for the instrument or instruments to continue to have effect subject to modifications.
(4) Without limiting subitem (3), regulations providing for the continued effect of things done or instruments made may permit all or any of the following matters to be determined in writing by a specified person, or by a person included in a specified class of persons:
(a) the identification of a thing done or instrument made, or a class of things done or instruments made, that is to continue to have effect;
(b) the purpose for which a thing done or instrument made, or a class of things done or instruments made, is to continue to have effect;
(c) any modifications subject to which an instrument made, or a class of instruments made, is to continue to have effect.
(5) Despite subsection 48(2) of the Acts Interpretation Act 1901, regulations for the purposes of this item:
(a) may be expressed to take effect from a date before the regulations are notified in the Gazette; and
(b) may provide for a determination of a kind referred to in subitem (4) to take effect from a date before the determination is made (including a date before the regulations are notified in the Gazette).
(6) In this item, a reference to a law, whether of the Commonwealth or of a State or Territory, includes a reference to an instrument made under such a law.
(7) In this item:
replaced legislation means:
(a) the AFIC Codes; and
(b) the Financial Institutions Codes; and
(c) the Friendly Societies Codes; and
(d) the Australian Financial Institutions Commission Act 1992 of Queensland, and any Act of another State or of a Territory that provides for the application, as a law of the State or Territory, of the Code set out in section 21 of the Australian Financial Institutions Commission Act 1992 of Queensland; and
(e) the Financial Institutions (Queensland) Act 1992 of Queensland, and any Act of another State or of a Territory that provides for the application, as a law of the State or Territory, of the Code set out in section 30 of the Financial Institutions (Queensland) Act 1992 of Queensland; and
(f) the Friendly Societies (Victoria) Act 1996 of Victoria, and any Act of another State or of a Territory that provides for the application, as a law of the State or Territory, of the Code set out in the Schedule to the Friendly Societies (Victoria) Act 1996 of Victoria; and
(g) the Friendly Societies (Western Australia) Act 1999; and
(h) any other law of a State or Territory prescribed by the regulations for the purposes of this definition.
Criminal Code Amendment (Theft, Fraud, Bribery and Related Offences) Act 2000 (No. 137, 2000)
Schedule 2
418 Transitional--pre-commencement offences
(1) Despite the amendment or repeal of a provision by this Schedule, that provision continues to apply, after the commencement of this item, in relation to:
(a) an offence committed before the commencement of this item; or
(b) proceedings for an offence alleged to have been committed before the commencement of this item; or
(c) any matter connected with, or arising out of, such proceedings;
as if the amendment or repeal had not been made.
(2) Subitem (1) does not limit the operation of section 8 of the Acts Interpretation Act 1901.
419 Transitional--pre-commencement notices
If:
(a) a provision in force immediately before the commencement of this item required that a notice set out the effect of one or more other provisions; and
(b) any or all of those other provisions are repealed by this Schedule; and
(c) the first-mentioned provision is amended by this Schedule;
the amendment of the first-mentioned provision by this Schedule does not affect the validity of such a notice that was given before the commencement of this item.
General Insurance Reform Act 2001 (No. 119, 2001)
Schedule 2
1 Definitions
In this Schedule:
commencement means the commencement of the amendments of the Insurance Act 1973 made by Schedule 1.
new Act means the Insurance Act 1973 as in force immediately after the commencement.
old Act means the Insurance Act 1973 as in force immediately before the commencement.
transition period means the period starting on the commencement and ending 2 years after the commencement.
2 Early applications for authorisation to carry on insurance business
(1) For the purpose of allowing applications for an authorisation to carry on insurance business to be made and dealt with before the commencement:
(a) Division 2 of Part III of the new Act; and
(b) any other provisions of the new Act so far as they relate to making or dealing with such applications;
apply after this Act receives the Royal Assent as if those provisions had come into operation at that time.
(2) An authorisation given before the commencement takes effect on the day specified (in writing) by APRA. That day must not be before the commencement.
3 Early approvals of auditors and actuaries
(1) For the purpose of allowing a general insurer to appoint an auditor or actuary, and APRA to approve such an appointment, under the new Act before the commencement:
(a) Division 1 of Part IV of the new Act; and
(b) any other provisions of the new Act so far as they relate to such appointments;
apply after this Act receives the Royal Assent as if those provisions had come into operation at that time.
(2) An appointment made or approval given before the commencement takes effect on the day specified (in writing) by APRA. That day must not be before the commencement.
3A Effect of authority under old Act
(1) An authority to carry on insurance business granted to a body corporate under section 23 or 24 of the old Act ceases to be in force immediately after an authority is granted to the body corporate under section 12 of the new Act.
(2) However, subitem (1) is subject to any determination under item 4 in respect of the body corporate.
4 Application of the old Act during the transition period
(1) APRA may determine that all or specified provisions of the old Act continue to apply to a person or class of persons for a specified period during the transition period.
(2) The determination may include a different specified period in respect of:
(a) different provisions of the old Act; or
(b) different persons or classes of persons.
(3) The determination may be made subject to specified conditions.
(4) A copy of the determination must be published in the Gazette and, on Gazette publication, has effect according to its terms.
5 Application of the new Act during the transition period
(1) APRA may determine that all or specified provisions of the new Act do not apply to a person or class of persons for a specified period during the transition period.
(2) The determination may include a different specified period in respect of:
(a) different provisions of the new Act; or
(b) different persons or classes of persons.
(3) The determination may be made subject to specified conditions.
(4) A copy of the determination must be published in the Gazette and, on Gazette publication, has effect according to its terms.
6 Body corporate covered by both the old Act and the new Act
(1) This item applies if during the transition period:
(a) a body corporate:
(i) is authorised under the old Act to carry on insurance business; or
(ii) is a general insurer under the new Act; and
(b) the effect of determinations under items 4 and 5 is that provisions of both the old Act and the new Act apply to the body corporate.
(2) While the determinations have that effect:
(a) if the body corporate is not authorised under the old Act to carry on insurance business--it is taken to be so authorised for the purposes of the provisions of the old Act that apply to the body corporate; and
(b) if the body corporate is not a general insurer under the new Act--it is taken to be a general insurer for the purposes of the provisions of the new Act that apply to the body corporate.
7 Direction to assign liabilities
(1) This item applies to a body corporate if:
(a) during the transition period, the body corporate is authorised under the old Act to carry on insurance business because of a determination under item 4; and
(b) APRA considers it appropriate to vary or revoke the determination so that the body corporate will no longer be so authorised; and
(c) the body corporate is not a general insurer under the new Act; and
(d) the body corporate has liabilities in respect of insurance business carried on by it in Australia.
(2) This item also applies to a body corporate if:
(a) during the transition period, the body corporate is authorised under the old Act to carry on insurance business because of a determination under item 4; and
(b) as at 3 months before the end of the transition period, the body corporate is not a general insurer under the new Act; and
(c) the body corporate has liabilities in respect of insurance business carried on by it in Australia.
(3) Section 17 of the new Act (which allows APRA to direct the assignment of liabilities) is taken to apply to the body corporate as though:
(a) the body corporate's authorisation under the old Act to carry on insurance business were an authorisation under the new Act to carry on insurance business; and
(b) APRA considered that it would revoke the authorisation if the body corporate had no liabilities in respect of insurance business carried on by it in Australia.
8 Auditors may be taken to be appointed under the new Act
(1) APRA may determine (in writing) that a person who was, immediately before the commencement, acting in accordance with the old Act as a body corporate's auditor, is:
(a) on and after the commencement; or
(b) on and after a specified day during the transition period;
taken to have been appointed as the body corporate's auditor in accordance with section 39 of the new Act.
(2) APRA may only make the determination with the person's written agreement.
(3) APRA must give a copy of the determination to the person and the body corporate to which the person is taken to have been appointed.
9 Actuarial investigation under the old Act
If APRA has given a body corporate notice under subsection 48A(2) of the old Act, and a report under section 48A has not been given to APRA before the commencement, sections 48A and 48B of the old Act continue to apply to the body corporate on and after the commencement until the report is given to APRA.
10 Directions to deal with the transition
(1) For the purpose of dealing with the transition from the old Act to the new Act, APRA may give written directions during the transition period to:
(a) a person to whom some or all of the old Act continues to apply during the transition period because of a determination under item 4; or
(b) a person to whom some or all of the new Act does not apply during the transition period because of a determination under item 5; or
(c) a person to whom some or all of the new Act applies.
(2) A person to whom a direction is given under subitem (1) must comply with the direction within the time specified in the direction.
10A Application of the old and new Act to certain insurers after the end of the transition period
(1) Items 4, 5, 6, 7, 8, 9 and 10 continue to apply (with the modifications mentioned in subitem (2)) to a body corporate at a time after the end of the transition period if:
(a) the body corporate:
(i) is authorised under the old Act to carry on insurance business; or
(ii) is a general insurer under the new Act; and
(b) APRA is satisfied at that time that the body corporate is carrying on insurance business in Australia for the sole purpose of discharging liabilities that arose before the end of the transition period.
(2) Items 4, 5, 6, 7, 8, 9 and 10 continue to apply to the body corporate as if:
(a) a reference in those items to the transition period included a reference to times after the end of the transition period; and
(b) a reference in those items to a specified period included a reference to an indefinite period.
11 Regulations
The Governor-General may make regulations providing for matters of a transitional nature arising from the amendments made by Schedule 1 to this Act.
Financial Sector (Collection of Data--Consequential and Transitional Provisions) Act (No. 1) 2001 (No. 121, 2001)
Schedule 2
45 Application
The amendments made by this Part apply only on and after the day on which the reporting standards determined under section 13 of the Financial Sector (Collection of Data) Act 2001 begin to apply under section 15 of that Act to financial sector entities (within the meaning of that Act) whose sole or principal business in Australia is insurance business (within the meaning of the Insurance Act 1973).
Schedule 3
1 Treatment of certain exemptions and determinations in connection with obligations of corporations to register
An exemption or determination by the Reserve Bank that was in force immediately before the commencement of this Schedule under paragraph 8(2)(l) of the Financial Corporations Act 1974 continues to have effect as if it were an exemption or determination by APRA under paragraph 7(2)(j) of the Financial Sector (Collection of Data) Act 2001.
2 Former Register of Corporations
On the commencement of this Schedule, the Register of Corporations that, immediately before that commencement, was kept by the Reserve Bank under subsection 9(9) of the Financial Corporations Act 1974 continues in existence as the Register of Entities kept by APRA under section 8 of the Financial Sector (Collection of Data) Act 2001.
3 Former list of registered corporations and categories
(1) On the commencement of this Schedule:
(a) the list (the former list) of registered corporations, divided into categories, that, immediately before that commencement, was prepared by the Reserve Bank under section 10 of the Financial Corporations Act 1974 continues in existence as a list (the new list) of the names of registered entities, divided into categories, kept by APRA under subsection 11(1) of the Financial Sector (Collection of Data) Act 2001; and
(b) a reference in any instrument having effect under an Act to a corporation included in a particular category in the former list is taken to be a reference to that corporation in its capacity as a registered entity included in the corresponding category in the new list.
(2) An obligation on the Reserve Bank to publish notice, or to notify a person, of a matter under section 10 of the Financial Corporations Act 1974, being an obligation that is undischarged as at the commencement of this Schedule, becomes, on that commencement, an obligation that APRA is to discharge in respect of the corresponding matter under section 11 of the Financial Sector (Collection of Data) Act 2001.
(3) A determination by the Reserve Bank that was in force under a provision of section 10 of the Financial Corporations Act 1974 immediately before the commencement of this Schedule continues to have effect, after that commencement, as if it were a determination by APRA under the corresponding provision of section 11 of the Financial Sector (Collection of Data) Act 2001.
(4) A request to the Reserve Bank under subsection 10(7) of the Financial Corporations Act 1974 that has not been dealt with by the commencement of this Schedule is, after that commencement, to be dealt with by APRA as if it were a request under subsection 11(7) of the Financial Sector (Collection of Data) Act 2001.
4 Definitions
In this Schedule:
APRA means the Australian Prudential Regulation Authority.
Reserve Bank means the Reserve Bank of Australia.
Australian
Prudential Regulation Authority Amendment Act 2003
(No. 42, 2003)
Schedule 3
1 Definitions
In this Schedule:
amended Act means the Australian Prudential Regulation Authority Act 1998 as in force after the commencement of the amendments.
commencement of the amendments means the commencement of the amendments made by Schedule 1.
old Act means the Australian Prudential Regulation Authority Act 1998 as in force immediately before the commencement of the amendments.
2 APRA's corporate existence is continued
(1) The body corporate that was, immediately before the commencement of the amendments, the Australian Prudential Regulation Authority (APRA) continues in existence after that commencement by force of this item under the corporate structure provided for by the amended Act.
Note: Rights, liabilities and obligations as between APRA and other people, and things done by or on behalf of APRA, or in relation to APRA, are therefore not affected by the restructure of APRA.
(2) However, this does not imply that any person who, immediately before the commencement of the amendments, was a member of APRA's Board, or was APRA's Chief Executive Officer, continues to hold office after that commencement.
Note: These people cease to hold office on the commencement of the amendments because of the repeal of the provisions under which they were appointed.
3 Continued protection from liability
Section 58 of the old Act continues to apply in relation to conduct, before the commencement of the amendments, of APRA's Board, a member of APRA's Board or an agent of a member of APRA's Board.
Note: The reference to a member of APRA's Board covers APRA's Chief Executive Officer.
4 Continued effect of certain delegations
(1) A delegation in force, immediately before the commencement of the amendments, under subsection 15(1) or (2) of the old Act continues to have effect after that commencement as if it were a delegation under APRA's seal under that subsection of the amended Act. If the delegation was to one or more members of APRA's Board, it continues to have effect as if it were a delegation to any APRA member.
(2) A direction in force, immediately before the commencement of the amendments, under subsection 15(3) of the old Act continues to have effect after that commencement, in relation to a delegation to which subitem (1) applies, as if it were a direction given by APRA under that subsection of the amended Act.
(3) A delegation to one or more members of APRA's Board in force, immediately before the commencement of the amendments, under a provision amended by Schedule 2 continues to have effect after that commencement as if it were a delegation under the amended provision to any APRA member.
Note: Delegations in favour of APRA, or APRA staff members, are not affected by the Schedule 2 amendments.
5 Continued effect of determinations of terms and conditions for staff and consultants
A determination of terms and conditions in force, immediately before the commencement of the amendments, under subsection 45(2) or 47(2) of the old Act continues to have effect after that commencement as if it were a determination by APRA under that subsection of the amended Act.
6 Continued effect of approvals under paragraph 56(5)(b)
An approval in force, immediately before the commencement of the amendments, under paragraph 56(5)(b) of the old Act continues to have effect after that commencement as if it were an approval by APRA under that paragraph of the amended Act.
7 Continued or extended effect of certain regulations
(1) Regulations in force, immediately before the commencement of the amendments, under paragraph (k) of the definition of Act covered by this section in subsection 56(1) of the old Act continue to have effect after that commencement as if they were made under paragraph (o) of the definition of prudential regulation framework law in subsection 3(1) of the amended Act, but only as that paragraph applies for the purposes of section 56 of the amended Act.
(2) Regulations in force, immediately before the commencement of the amendments, under paragraph 56(5)(a) of the old Act have effect after that commencement (in addition to the effect they continue to have for that paragraph of the amended Act) as if they were also made under subsection 10A(1) of the amended Act.
8 Delegations by ASIC to APRA staff members
(1) Subsection 102(2A) of the Australian Securities and Investments Commission Act 2001 has effect after the commencement of the amendments as if the reference in that subsection to the Chief Executive Officer of APRA were instead a reference to APRA.
(2) For the purposes of that subsection as it continues to have effect, an agreement to a delegation, in force under that subsection immediately before the commencement of the amendments, continues to have effect after that commencement as if it were given by APRA.
Financial Sector Legislation Amendment (Discretionary Mutual Funds and Direct Offshore Foreign Insurers) Act 2007 (No. 149, 2007)
Schedule 2
7 Transitional--application of item 6
(1) The amendments made by item 6 do not apply to an entity specified in the regulations, or to an entity included in a class of entities specified in the regulations, for the period (not exceeding 2 years), specified in the regulations in relation to that entity or class of entities.
(2) Subsection 985D(1) of the Corporations Act 2001 applies in relation to that entity during that period as if the entity were a general insurer within the meaning of the Insurance Act 1973.
(3) The Governor-General may make regulations for the purposes of subitem (1).
Financial Sector Legislation Amendment (Simplifying Regulation and Review) Act 2007 (No. 154, 2007)
Schedule 1
292 Saving provision for section 7 determinations (Insurance Act)
(1) This item applies to a determination that was in force under section 7 of the Insurance Act 1973 immediately before that section was amended by this Act.
(2) To the extent that it relates to a provision of the Insurance Act 1973 referred to in section 7 as amended by this Act, the determination:
(a) continues in force after the commencement of the amendments, as if it were a determination made under section 7 as amended; and
(b) may be varied or revoked by APRA under section 7 as amended.
(3) A determination or part of a determination to which subitem (2) does not apply ceases to have effect on the day after the end of the period of 12 months beginning on the day on which this Act receives the Royal Assent, unless earlier revoked by APRA.
296 Regulations may prescribe matters
The Governor-General may make regulations prescribing matters of a transitional nature (including prescribing any saving or application provisions) in relation to the amendments or repeals made by this Schedule.
Financial Sector Legislation Amendment (Review of Prudential Decisions) Act 2008 (No. 25, 2008)
Schedule 1
21 Application and transitional provisions
(1) For the purposes of the Insurance Act 1973, a disqualification by APRA that is in force under section 25A or 44 of that Act immediately before this item commences continues in force after this item commences.
(2) For the purposes of the Insurance Act 1973, a reference in column 1 of the table in the provision of the Insurance Act 1973 (as in force immediately after this item commences) referred to in column 2 is taken to include the reference in column 3.
|
New references to court orders to include references to disqualifications by APRA |
|||
|
Item |
Column 1 Reference |
Column 2 Provision of the Insurance Act |
Column 3 Reference taken to be included |
|
1 |
a person who was disqualified under section 25A |
section 24 and paragraph 26(1)(a) |
a person who was disqualified under section 25A under a disqualification that is continued in force under subitem (1) |
|
2 |
a person disqualified under section 25A by the Federal Court of Australia |
paragraph 25(1)(f) |
a person disqualified under section 25A by APRA under a disqualification that is continued in force under subitem (1) |
|
3 |
an order made under section 25A |
paragraph 26(1)(a) and subsection 26(2) |
a disqualification made under section 25A that is continued in force under subitem (1) |
|
4 |
an order made under section 44 |
paragraph 40(2)(b) |
a disqualification made under section 44 that is continued in force under subitem (1) |
|
5 |
a person disqualified under section 44 |
sections 43, 43A, 45 and 48 |
a person disqualified under section 44 under a disqualification that is continued in force under subitem (1) |
(3) Sections 25A and 44 of the Insurance Act 1973 (as in force immediately after this item commences) apply in relation to any conduct engaged in by a person, whether before or after this item commences.
Waivers of disqualifications
(4) If:
(a) either:
(i) a person applies to APRA for a determination under section 26 of the Insurance Act 1973 that the person is not a disqualified person; or
(ii) a person applies to APRA under section 45 of the Insurance Act 1973 for the revocation of a determination under section 44 of that Act; and
(b) APRA has not made a decision on the application at the time this item commences;
the application is taken to be withdrawn at that time.
Note: See subitem (7) for the treatment of a decision by APRA under section 26 or 45 of the Insurance Act 1973 in respect of which review proceedings are on foot at commencement.
(5) A determination under section 26 of the Insurance Act 1973 that is in force immediately before this item commences continues in force after that time. However, APRA may not revoke the determination.
(6) If:
(a) a determination in relation to a person continues in force under subitem (5); and
(b) after this item commences, an order is made under section 25A of the Insurance Act 1973 (as in force at that time) that the person is disqualified from being or acting as a person referred to in subsection 25A(2) of that Act;
the determination ceases to be in force.
Review proceedings on foot at commencement
(7) The amendments to the Insurance Act 1973 made by this Schedule do not affect:
(a) any request, in relation to a decision made under section 25A, 26, 44 or 45 of that Act, for a review that is pending under section 63 of that Act immediately before the commencement of this item; or
(b) any proceeding, in relation to a decision under section 25A, 26, 44 or 45 of that Act that has been confirmed or varied under subsection 63(4) of that Act, that is pending before the Administrative Appeals Tribunal immediately before the commencement of this item; or
(c) any appeal to a court in relation to a proceeding referred to in paragraph (b).
(8) If a disqualification by APRA under section 25A or 44, or a determination under section 26, of the Insurance Act 1973 is confirmed or varied as a result of a request, proceeding or appeal referred to in subitem (7), the disqualification or determination is, for the purposes of subitem (1) or (5) (as the case requires), taken to have been in force immediately before this item commences.
Schedule 2
16 Saving directions
(1) This item applies to a direction that is in force under section 36, 49M, 49N, 51 or 62 of the Insurance Act 1973 immediately before this item commences.
(2) For the purposes of the Insurance Act 1973, the direction continues in force after this item commences as if the direction were given under section 104 of that Act (as inserted by this Act).
Schedule 3
27 Application
(1) This item applies to any security that is lodged with the Treasurer under section 92Q of the Insurance Act 1973 immediately before this item commences.
(2) Immediately after this item commences, the legal and beneficial interest in the security remains with the Commonwealth, and APRA is taken to have custody of the securities for and on behalf of the Commonwealth.
Schedule 4
43 Application
The amendments made by this Schedule apply to decisions made on or after the day on which this Schedule commences.
Financial System Legislation Amendment (Financial Claims Scheme and Other Measures) Act 2008 (No. 105, 2008)
Schedule 1
62 Transitional--Product Disclosure Statements
Despite Chapter 7 of the Corporations Act 2001, a Product Disclosure Statement (as defined in that Chapter) given within 18 months after the commencement of this Schedule need not contain information relating to Division 2AA of Part II of the Banking Act 1959 or Part VC of the Insurance Act 1973.
Schedule 3
8 Application
The amendment of section 17F of the Insurance Act 1973 made by this Part applies in relation to decisions relating to applications made on or after the commencement of this Part for confirmation of schemes.
10 Application
The amendment of section 28 of the Insurance Act 1973 made by this Part applies in relation to a general insurer whether it became authorised to carry on insurance business in Australia before, on or after the commencement of this Part.
12 Application
Sections 62V and 62ZB of the Insurance Act 1973 apply to contracts made after the commencement of those sections.
15 Application
The amendments of section 105 of the Insurance Act 1973 made by this Part apply to contracts made after the commencement of this Part.
17 Application
Subsection 116(3A) of the Insurance Act 1973 applies in relation to a general insurer whether it became authorised to carry on insurance business in Australia before, on or after the commencement of this Part.
Tax Laws Amendment (2009 Measures No. 2) Act 2009 (No. 42, 2009)
Schedule 1
31 Application of section 62ZZKA
Section 62ZZKA of the Insurance Act 1973 applies in relation to amounts paid or applied before, on or after the commencement of the section.
Financial Sector Legislation Amendment (Enhancing Supervision and Enforcement) Act 2009 (No. 75, 2009)
Schedule 2
14 Application
The amendments made by this Schedule apply in relation to applications for injunctions made on or after the commencement of this Schedule, whether the conduct, refusal or failure that is the subject of the application occurred before, on or after that commencement.
Financial Sector Legislation Amendment (Prudential Refinements and Other Measures) Act 2010 (No. 82, 2010)
Schedule 2
92 Saving--appointment as an auditor of a general insurer
(1) This item applies if:
(a) a person was appointed as the auditor of a general insurer under paragraph 39(1)(a) of the Insurance Act 1973 before the commencement of this item; and
(b) the appointment had not ended immediately before the commencement.
(2) After that commencement of this item, the appointment has effect as if the appointment had been made under paragraph 39(1)(a) of the Insurance Act 1973 as amended by this Schedule.
(3) To avoid doubt, the person is the principal auditor of the general insurer for the purposes of the Insurance Act 1973.
93 Application--powers and functions of a judicial manager
Subsection 62T(1) of the Insurance Act 1973, as amended by this Schedule, applies whether the order referred to in subsection 62T(1) was made before, on, or after the commencement of this item.
Acts Interpretation Amendment Act 2011 (No. 46, 2011)
Schedule 3
10 Saving--appointments
The amendments made by Schedule 2 do not affect the validity of an appointment that was made under an Act before the commencement of this item and that was in force immediately before that commencement.
11 Transitional regulations
The Governor-General may make regulations prescribing matters of a transitional nature (including prescribing any saving or application provisions) relating to the amendments and repeals made by Schedules 1 and 2.