Insurance Legislation Amendment Act 1989 (Cth)

Insurance Legislation Amendment Act 1989

No. 16 of 1989

TABLE OF PROVISIONS

PART I—PRELIMINARY Section 1. Short title 2. Commencement

PART II—AMENDMENT OF THE INSURANCE ACT 1973

3. Principal Act 4. Interpretation 5. Repeal of section 113 6. Offences

PART III—AMENDMENT OF THE INSURANCE AMENDMENT ACT 1983

7. Principal Act 8. Interpretation

PART IV—AMENDMENT OF THE INSURANCE (AGENTS AND BROKERS) ACT 1984

9. Principal Act 10. Interpretation 11. Insertion of new section: 9a. Meaning of references to arranging contracts etc. with unauthorised foreign insurers 12. Registration of brokers 13. Inspection of documents TABLE OF PROVISIONS—continued Section 14. Insertion of new sections: 25a. Annual return 25b. Notification of foreign agency agreements 15. Insertion of new Part:

PART IIIa—REGISTRATION OF FOREIGN INSURANCE AGENTS

31a. Interpretation 31b. Foreign insurance agents not to carry on business unless registered 31c. Applications for registration 31d. Registration of foreign insurance agents 31e. Register to be kept 31f. Inspection of documents 31g. Delay in registration or renewal 31h. Suspension or cancellation of registration 31j. Annual return 31k. Notification of foreign agency agreements 16. Insurance intermediary to notify insured if insurer is an unauthorised foreign insurer 17. Accounts and audit 18. Certain particulars to be included in reports

PART V—AMENDMENT OF THE LIFE INSURANCE AMENDMENT ACT 1977

19. Principal Act 20. Repeal of sections 6, 7, 10, 13 and 35

PART VI—AMENDMENT OF THE LIFE INSURANCE ACT 1945

21. Principal Act 22. Interpretation 23. Actuaries 24. Annual report and returns 25. Repeal of section 13 26. Application for registration 27. Insertion of new section: 21a. Company not to be registered unless it has an appointed actuary 28. Investment of statutory funds 29. Insertion of new Division: Division 4a—Appointed Actuaries 47a. Appointment etc. of actuary 47b. Registered company required to appoint actuary 47c. Registered company to notify appointment 47d. Registered company to notify if appointed actuary ceases to act 30. Actuarial reports, abstracts and statements of life insurance business 31. Provisions as to valuations 32. Payments of dividends and bonuses from statutory funds 33. Accounts, balance-sheets etc. to be signed and lodged with Commissioner 34. Insertion of new section: 53a. Interpretation 35. Power to require production of books 36. Power to obtain information 37. Certain forms to be submitted for approval 38. Premium rates 39. Commissions or rebates in respect of policies 40. Repeal of sections 80, 81 and 82 41. Minors 42. Unclaimed moneys 43. Interpretation TABLE OF PROVISIONS—continued Section 44. Lost policies 45. Review of certain decisions 46. Service of notices 47. Amendment of Second Schedule 48. Amendment of Third Schedule