Insurance Acquisitions and Takeovers Regulations (Cth)

Insurance Acquisitions and Takeovers Regulations

Statutory Rules 1997 No. 236 as amended

made under the

Insurance Acquisitions and Takeovers Act 1991

Consolidated as in force on 23 June 1999

(includes amendments up to SR 1998 No. 79)

Prepared by the Office of Legislative Drafting,

Attorney-General’s Department, Canberra

Insurance Acquisitions and Takeovers Regulations

Statutory Rules 1997 No. 236 as amended

made under the

Insurance Acquisitions and Takeovers Act 1991

Contents

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1Citation [see Note 1]

 These rRegulations may be cited as the Insurance Acquisitions and Takeovers Regulations Regulations.

2Financial sector supervisory agencies (Act, s. 75)

For the definition of financial sector supervisory agency in subsection 75 (1) of the Act, the following agencies are declared:

• (a)

  Australian Financial Institutions Commission;

• (b)

  Australian Securities Commission;

• (c)

  Department of Urban Services, Australian Capital Territory;

• (ca)

  Motor Accident Insurance Commission, Queensland;

• (d)

  New South Wales Financial Institutions Commission;

• (e)

  New South Wales Motor Accidents Authority;

• (g)

  Queensland Office of Financial Supervision;

• (h)

  Registrar of Financial Institutions, Australian Capital Territory;

• (i)

  Reserve Bank of Australia;

• (j)

  South Australian Office of Financial Supervision;

• (k)

  Tasmanian Office of Financial Supervision;

• (l)

  Territory Supervisory Authority, Northern Territory;

• (m)

  Victorian Financial Institutions Commission;

• (n)

  Victorian WorkCover Authority;

• (o)

  Western Australian Financial Institutions Authority;

• (p)

  Workcover Authority of New South Wales;

• (q)

  Work Cover Corporation;

• (r)

  WorkCover Western Australia;

• (s)

  Work Health Authority, Northern Territory;

• (t)

  Workplace Standards Authority.

3Law enforcement agencies (Act, s. 75)

 For the definition of law enforcement agency in subsection 75 (1) of the Act, the following agencies are declared:

• (a)

  Australian Bureau of Criminal Intelligence;

• (b)

  Australian Competition and Consumer Commission;

• (c)

  Australian Federal Police;

• (d)

  Australian Transactions Reports and Analysis Centre (AUSTRAC);

• (e)

  Civil Aviation Safety Authority;

• (f)

  Commonwealth Director of Public Prosecutions;

• (g)

  Commonwealth Law Enforcement Board;

• (h)

  Criminal Justice Commission, Queensland;

• (i)

  Independent Commission Against Corruption, New South Wales;

• (j)

  National Crime Authority;

• (k)

  National Exchange of Police Information;

• (l)

  New South Wales Crime Commission;

• (m)

  Office of Law Enforcement Policy;

• (n)

  Office of Strategic Crime Assessments;

• (o)

  Police Integrity Commission, New South Wales;

• (p)

  an authority of a State or Territory having functions and powers similar to those of the Commonwealth Director of Public Prosecutions;

• (q)

  the police force of a State or Territory.

4Overseas financial sector supervisory agencies (Act, s. 75)

 For the definition of overseas financial sector supervisory agency in subsection 75 (1) of the Act, the following agencies are declared:

• (a)

  Bank Negara Malaysia (Central Bank of Malaysia);

• (b)

  Bundesaufsichtsamt für das Versicherungswesen (Federal Insurance Supervisory Office), Germany;

• (c)

  Bundesministerium der Finanzen (Federal Ministry of Finance), Germany;

• (d)

  Commission de Contrôle des Assurances (Insurance Supervisory Authority), France;

• (e)

  Danish Financial Supervisory Authority;

• (f)

  Department of Finance, Papua New Guinea;

• (g)

  Department of Insurance, Thailand;

• (h)

  Department of Trade and Industry, United Kingdom;

• (i)

  Directorate General of Financial Institutions of the Ministry of Finance, Indonesia;

• (j)

  European Commission;

• (k)

  Federal Office of Private Insurance, Switzerland;

• (l)

  Financial Institutions Canada;

• (m)

  Financial Services Board, South Africa;

• (n)

  Finansinspektionen (Financial Supervisory Authority), Sweden;

• (o)

  Insurance Regulatory Authority, India;

• (p)

  Insurance Section, Department of Enterprise and Employment, Republic of Ireland;

• (q)

  Istituto per la vigilanza sulle assicurazioni private e di interesse collettivo (Institute for the Supervision of Private Insurance Undertakings and Insurance Undertakings of Public Interest), Italy (ISVAP);

• (r)

  Ministère de l’Économie et des Finances (Ministry of the Economy and Finance), France;

• (s)

  Ministry of Commerce, New Zealand;

• (t)

  Ministry of Finance, Japan;

• (u)

  Monetary Authority of Singapore;

• (v)

  National Association of Insurance Commissioners, United States of America;

• (w)

  Office of the Commissioner of Insurance, Hong Kong;

• (x)

  Verzekeringskamer (Chamber of Insurance), Netherlands.

Notes to the Insurance Acquisitions and Takeovers Regulations

Note 1

The Insurance Acquisitions and Takeovers Regulations (in force under the Insurance Acquisitions and Takeovers Act 1991) as shown in this consolidation comprise Statutory Rules 1997 No. 236 amended as indicated in the Tables below.

Table of Statutory Rules

Year and number	Date of notification in Gazette	Date of commencement	Application, saving or transitional provisions
1997 No. 236	10 Sept 1997	10 Sept 1997
1998 No. 79	5 May 1998	5 May 1998	—
1998 No. 194	30 June 1998	1 July 1998	—

Table of Amendments

ad. = added or inserted  am. = amended rep. = repealed rs. = repealed and substituted
Provision affected	How affected
R. 2..........................................	am. 1998 No. 79