Commonwealth Consolidated Regulations

CORPORATIONS REGULATIONS 2001 - REG 7.1.17

         (1)   For subparagraph 761G (5) (b) (vii) of the Act, a personal and domestic property insurance product is a contract or part of a contract that provides insurance cover (whether or not the cover is limited or restricted in any way) in respect of loss or damage to property that is:

                (a)    wholly or predominantly used for personal, domestic or household purposes by:

                          (i)    the insured; or

                         (ii)    a relative of the insured; or

                        (iii)    any person with whom the insured resides; and

               (b)    ordinarily used for that purpose.

         (2)   A personal and domestic property insurance product does not include:

                (a)    insurance to or in relation to which the Marine Insurance Act 1909 applies; or

               (b)    insurance entered into, or proposed to be entered into, for the purposes of a law (including a law of a State or Territory) that relates to:

                          (i)    workers' compensation; or

                         (ii)    compulsory third party compensation.

         (3)   In this regulation:

property includes any of the following:

                (a)    moveables;

               (b)    valuables;

                (c)    a caravan or mobile home;

               (d)    an on-site mobile home;

                (e)    a trailer;

                (f)    a marine pleasure craft;

               (g)    a horse;

               (h)    a domestic pet;

                (i)    a mobile phone.

relative means any of the following relatives of an insured person:

                (a)    mother;

               (b)    step-mother;

                (c)    father;

               (d)    step-father;

                (e)    brother;

                (f)    half-brother;

               (g)    sister;

               (h)    half-sister;

                (i)    spouse (including defacto spouse);

                (j)    son;

               (k)    step-son;

                (l)    adopted son;

              (m)    daughter;

               (n)    step-daughter;

               (o)    adopted daughter;

               (p)    grandparent;

               (q)    grandchild;

                (r)    nephew;

                (s)    niece;

                (t)    uncle;

               (u)    aunt;

               (v)    mother-in-law;

              (w)    father-in-law.

         (4)   For paragraph (1) (a), property is taken to be wholly or predominantly used for personal, domestic or household purposes if the insured gives the insurer a statement, before the insurance product is issued, that the property is intended to be used wholly or predominantly for 1 or more of those purposes.