Insurance (Agents and Brokers) Act 1984 (Cth)
This compilation was prepared on 11 March 2002
taking into account amendments up to Act No. 146 of 2001
Prepared by the Office of Legislative Drafting,
Attorney‑General’s Department, Canberra
Contents
This Act may be cited as the
Insurance (Agents and Brokers) Act 1984 .
(1) Part I, Part II (other than sections 10 and 12) and Part IV (other than section 37) shall come into operation on the day on which this Act receives the Royal Assent.
(2) The remaining provisions of this Act shall come into operation on such day as is, or such days as respectively are, fixed by Proclamation.
(1) This Act binds the Crown in right of the Commonwealth or of a Territory in which this Act applies or to which this Act extends but does not bind the Crown in right of a State.
(2) Nothing in this Act renders the Crown in right of the Commonwealth or of a Territory liable to be prosecuted for an offence arising under this Act.
This Act extends to an external Territory that is for the time being declared by Proclamation to be a Territory to which this Act extends.
It is the intention of the Parliament that this Act is not, except in so far as this Act, either expressly or by necessary intendment, otherwise provides, to affect the operation of any other law of the Commonwealth, the operation of a law of a State or Territory or the operation of any principle or rule of the common law or of equity.
Chapter 2 of the
Criminal Code does not apply to any offences against this Act.
(1) Subject to sections 7 and 8, the application of this Act extends to contracts of insurance and proposed contracts of insurance, and to conduct in connection with such contracts and proposed contracts, being contracts or proposed contracts the proper law of which is or would be the law of a State or of a Territory in which this Act applies or to which this Act extends.
(2) For the purposes of subsection (1), where the proper law of a contract or proposed contract would, but for an express provision to the contrary included or to be included in the contract or in some other contract, be the law of a State or of a Territory in which this Act applies or to which this Act extends, then, notwithstanding that provision, the proper law of the contract is the law of that State or Territory.
This Act does not apply to or in relation to contracts and proposed contracts:
(a) of reinsurance; or
(b) of insurance entered into, or proposed to be entered into, by a registered health benefits organization, as an insurer, in the course of its business as a registered organization within the meaning of Part VI of the
National Health Act 1953 ; or(c) of insurance entered into, or proposed to be entered into, by the Export Finance and Insurance Corporation under the
Export Finance and Insurance Corporation Act 1991 , other than short‑term insurance contracts within the meaning of that Act; or(d) for interests in approved benefit funds (within the meaning of the
Life Insurance Act 1995 ) of friendly societies (within the meaning of that Act).
This Act does not apply to or in relation to:
(a) State insurance or Northern Territory insurance; or
(b) a contract of insurance or proposed contract of insurance entered into or proposed to be entered into by:
(i) a State or the Northern Territory; and
(ii) some other insurer;
as joint insurers.
In this Act, unless the contrary intention appears:
accounting period means:
(a) in relation to a corporation—the period in respect of which any profit and loss account of the corporation laid before it in general meeting is made up, whether that period is a year or not;
(b) in relation to a person (other than a corporation) in relation to whom an accounting period is applicable as a year of income for the purposes of the
Income Tax Assessment Act 1936 or as an income year for the purposes of theIncome Tax Assessment Act 1997 —that accounting period; and(c) in any other case—a period of 12 months commencing on 1 July.
approved auditor means a person included in a class of persons specified in regulations made for the purposes of this definition.
approved form means a form approved under section 9C.
ASIC means the Australian Securities and Investments Commission.
authorised officer means a person appointed by ASIC under section 47 to be an authorised officer for the purposes of the provision in which the expression occurs.
bank includes, but is not limited to, a body corporate that is an ADI (authorised deposit‑taking institution) for the purposes of theBanking Act 1959 .
binder means:
(a) an authority given by an insurer to an insurance intermediary to enter into, as agent for the insurer, contracts of insurance on behalf of the insurer as insurer; or
(b) an authority given by an insurer to an insurance intermediary to deal with and settle, as agent for the insurer, claims against the insurer as insurer;
but does not include an authority of a kind referred to in paragraph (a) that is limited to effecting contracts of insurance, or contracts of insurance of a particular class, by way of interim cover unless there is also in existence an authority given by the insurer to the insurance intermediary to enter into, as agent for the insurer and otherwise than by way of interim cover, contracts of insurance, or contracts of insurance of that class, as the case may be.
class of insurance business means:
(a) life insurance business; or
(b) a class of insurance business prescribed for the purposes of subsection 42(2) of the
Insurance Act 1973 .
contract of insurance includes a contract of life insurance.Note:
Contract of life insurance has a meaning affected by section 9D.
corporation means a body corporate constituted by a law of the Commonwealth or of a State or Territory or a company.
foreign agency agreement , in relation to a person, means an agreement that authorises the person, as agent for an unauthorised foreign insurer, to arrange contracts of general insurance.
foreign insurance agent means a person who carries on the business of arranging contracts of general insurance, whether in Australia or elsewhere, as agent for an unauthorised foreign insurer.
general insurance broker means a person who is for the time being registered under Part III in respect of general insurance business.
general insurance business has the same meaning asinsurance business has in theInsurance Act 1973 .
insolvent company under administration means a company:
(a) that has entered into a compromise or arrangement with its creditors, or a class of them, the administration of which has not ended; or
(b) in respect of property of which a receiver, or a receiver and manager, has been appointed (whether or not by a court) and is acting; or
(c) that is under administration within the meaning of the
Corporations Act 2001 ; or(d) that has executed under Part 5.3A of that Act a deed of company arrangement that has not yet terminated; or
(e) that is under official management; or
(f) that is being wound up; or
(g) in respect of which a provisional liquidator has been appointed and not since removed.
insolvent under administration means a person who:
(a) under the
Bankruptcy Act 1966 or the law of an external Territory, is a bankrupt in respect of a bankruptcy from which the person has not been discharged; or(b) under the law of an external Territory or the law of a foreign country, has the status of an undischarged bankrupt;
and includes:
(c) a person any of whose property is subject to control under:
(i) section 50 or Division 2 of Part X of the
Bankruptcy Act 1966 ; or(ii) a corresponding provision of the law of an external Territory or the law of a foreign country; or
(d) a person who has, at any time during the preceding 3 years, executed a deed of assignment or a deed of arrangement under:
(i) Part X of the
Bankruptcy Act 1966 ; or(ii) the corresponding provisions of the law of an external Territory or the law of a foreign country; or
(e) a person whose creditors have, within the preceding 3 years, accepted a composition under:
(i) Part X of the
Bankruptcy Act 1966 ; or(ii) the corresponding provisions of the law of an external Territory or the law of a foreign country.
insurance broker means a person who carries on the business of arranging contracts of insurance, whether in Australia or elsewhere, as agent for intending insureds.
insurance intermediary means a person who:
(a) for reward; and
(b) as an agent for one or more insurers or as an agent for intending insureds;
arranges contracts of insurance in Australia or elsewhere, and includes an insurance broker.
insured , in relation to a contract of life insurance, means a person (other than the insurer) who is entitled to a benefit under the contract, whether that person is the life insured or some other person, andintending insured has a corresponding meaning.
life insurance broker means a person who is for the time being registered under Part III in respect of life insurance business.
life insurance business has the same meaning as in theLife Insurance Act 1995 .
Lloyd’s underwriter has the same meaning as in theInsurance Act 1973.
registered foreign insurance agent means a person who is for the time being registered under Part IIIA.
registered insurance broker means a person who is for the time being registered under Part III, whether in respect of general insurance business or life insurance business or in respect of each of those businesses.
unauthorised foreign insurer means:
(a) an insurer who:
(i) does not have an authority under the
Insurance Act 1973 to carry on insurance business; and(ii) is not a person who, because of section 5 of that Act, is not required to have such an authority; and
(iii) carries on insurance business outside Australia and the external Territories to which the
Insurance Act 1973 extends; or(b) if a direction is in force under section 74 the
Insurance Act 1973 —a Lloyd’s underwriter.
A reference in this Act to a person arranging a contract as agent for an unauthorised foreign insurer or arranging a contract with an unauthorised foreign insurer includes a reference to the person arranging a contract as agent for, or arranging a contract with, 2 or more insurers including one or more unauthorised foreign insurers.
(1) An acceptable contract of professional indemnity insurance, in relation to liabilities that are prescribed for the purposes of a nominated provision, means a contract of insurance:
(a) that is accepted by ASIC; and
(b) that contains a clause indicating that the parties to the contract intend that any claim under the contract will be determined according to the law of a State or Territory specified in the contract; and
(c) under which the insured is indemnified to the extent required by the regulations in respect of the prescribed liabilities arising out of or in the course of the insured’s business as an insurance intermediary.
(2) Regulations specifying the extent to which a person is to be indemnified under an acceptable contract of professional indemnity insurance may make provision for different amounts according to the date on which the contract is entered into or renewed.
(3) Despite section 28 of the
Insurance Contracts Act 1984 :
(a) a failure to comply with a duty of disclosure by a person seeking to enter into an acceptable contract of professional indemnity insurance; or
(b) a misrepresentation by such a person to an insurer before such a contract was entered into;
whether that failure or misrepresentation was fraudulent or not, is not a ground for the insurer to avoid the contract or to reduce its liability under the contract.
(4) An acceptable contract of professional indemnity insurance in respect of liabilities that are prescribed for the purposes of a nominated provision must provide that, despite the fact:
(a) that the person entering into the contract subsequently ceases to trade as an insurance intermediary; or
(b) that the contract is cancelled under subsection (5);
that person, or any other person who becomes responsible for the liabilities of that person, is to continue to be indemnified in relation to a claim:
(c) that is made in respect of a contract of insurance entered into by the insurance intermediary; and
(d) that gives rise to such a prescribed liability;
if that claim is made within the period after entry into that last‑mentioned contract of insurance that is, at the time of entry into that contract, prescribed by regulations made for the purposes of this subsection.
(5) The insurer under an acceptable contract of professional indemnity insurance must not cancel the contract unless, at least 3 business days before the date of intended cancellation of the contract, ASIC is notified in writing by the insurer or by the agent of the insurer:
(a) of the insurer’s intention to cancel the contract; and
(b) of the date of the intended cancellation of the contract; and
(c) of the reason for the intended cancellation of the contract.
Penalty: 150 penalty units.
(6) For the purposes of subsection (5), the following days do not count as business days:
(a) a Saturday or a Sunday;
(b) a day that is a public holiday or a bank holiday;
(i) in the Australian Capital Territory; and
(ii) if the insured is a natural person—in the place of residence of the insured; and
(iii) if the insured is a company—in the State or Territory in which the insured is incorporated; and
(iv) if the insured is a partnership or a body corporate other than a company—in the principal place of business of the insured.
(7) A provision in a contract of professional indemnity insurance has no effect if it purports to permit the contract to be cancelled by a person (the
premium funder ) who has entered into a loan agreement with the insured for the provision of all or a part of the premium payable under the contract if the insured is unable or unwilling to comply with the terms of the loan agreement.(8) In this section:
nominated provision means:
(a) paragraph 19(1)(b); or
(b) subparagraph 31B(1)(a)(ii) or (b)(ii).
(1) In this Act, a reference to an approved form is a reference to a form that is approved, by written instrument, by ASIC.
(2) The instrument by which a form is approved under subsection (1) after this section commences is a disallowable instrument for the purposes of section 46A of the
Acts Interpretation Act 1901 .
(1) For the purposes of this Act, if:
(a) a life policy (within the meaning of the
Life Insurance Act 1995 ) would not ordinarily be regarded as a contract of life insurance; and(b) liability under the policy is borne by a company registered under the
Life Insurance Act 1995 ; and(c) the policy was entered into after the commencement of this section;
the policy is taken to be a contract of life insurance.
(2) Without prejudice to its effect apart from this subsection, subsection (1) also has the effect it would have if the reference to a company were, by express provision, confined to a company that is a corporation to which paragraph 51(xx) of the Constitution applies.
(1) An insurance intermediary (other than an insurance broker) shall not arrange, or hold the intermediary out as entitled to arrange, a contract of insurance as agent for an insurer unless an agreement in writing between the intermediary and the insurer authorizes the intermediary to arrange:
(a) that contract;
(b) any contracts of insurance; or
(c) a class of contracts of insurance in which that contract is included;
as agent for that insurer.
(2) An insurer shall not cause or permit an insurance intermediary (other than an insurance broker) to arrange, or hold the intermediary out as entitled to arrange, a contract of insurance as agent for that insurer unless an agreement in writing between the insurer and the intermediary authorizes the intermediary to arrange:
(a) that contract;
(b) any contracts of insurance; or
(c) a class of contracts of insurance in which that contract is included;
as agent for that insurer.
(2A) An agreement referred to in this section must specify whether an insurance intermediary can appoint a person as the intermediary’s agent for the purposes of the agreement.
(3) Subsections (1) and (2) do not apply in relation to any act or thing done by an employee of an insurer in the course of performing his or her duties as such an employee.
(4) Where an insurance intermediary to whom subsection (1) applies proposes, or holds the intermediary out as entitled, to arrange, or has arranged, a contract of insurance as agent of an insurer, ASIC, or the intending insured or the insured, may request the intermediary to give ASIC, the proposed insured or the insured a copy of the agreement authorizing the intermediary to arrange that contract, and, if such a request is made, the intermediary shall comply with the request within 7 days after the day on which the request is received by the intermediary.
(5) ASIC may request an insurer to give ASIC a copy of the agreement referred to in subsection (2) that is in force between the insurer and an insurance intermediary referred to in the request, and, if such a request is made, the insurer shall comply with the request within 7 days after the day on which the request is received by the insurer.
(6) The validity of a contract of insurance is not affected by a contravention of this section.
Penalty: Imprisonment for 6 months.
Note: Subsection 4B(2) of the
Crimes Act 1914 allows a court to impose an appropriate fine instead of, or in addition to, a term of imprisonment. If a body corporate is convicted of an offence, subsection 4B(3) of that Act allows a court to impose a fine of an amount that is not greater than 5 times the maximum fine that could be imposed by a court on an individual convicted of the same offence.
(1) This section applies to any conduct of an employee or agent of an insurer:
(a) on which a person in the circumstances of the insured or intending insured could reasonably be expected to rely; and
(b) on which the insured or intending insured in fact relied in good faith.
(1A) An insurer is responsible, as between the insurer and the insured or intending insured, for the conduct of an employee of the insurer in relation to any matter relating to insurance, whether or not the employee acted within the scope of his or her employment.
(1B) If a person is the agent of one insurer only, the insurer is responsible, as between the insurer and the insured or intending insured, for the conduct of the agent in relation to any matter relating to insurance, whether or not the agent acted within the scope of the authority granted by the insurer.
(1C) If:
(a) a person who is the agent of more than one insurer is the agent of one insurer only in respect of a particular class of insurance business; and
(b) the person engages in the conduct in relation to any matter relating to that class of insurance business;
the insurer who granted the agency agreement in respect of that class of insurance business is responsible for the conduct, as between the insurer and the insured or intending insured, whether or not the agent has acted within the scope of the authority granted by the insurer.
(1D) If:
(a) a person is the agent of more than one insurer in respect of a particular class of insurance business; and
(b) the person engages in the conduct in relation to any matter relating to that class of insurance;
the insurers are jointly and severally responsible for the conduct, as between themselves and the insured or intending insured, if the agent has acted beyond the scope of the authority granted by any of the insurers.
(1E) If:
(a) a person is the agent of more than one insurer in respect of a particular class of insurance business; and
(b) the person engages in the conduct in relation to a matter relating to that class; and
(c) the person, in so engaging, has acted within the scope of the authority granted by one only of those insurers;
that insurer is responsible for the conduct, as between the insurer referred to in paragraph (c) and the insured or intending insured.
(1F) If:
(a) a person is the agent of more than one insurer in respect of a particular class of insurance business; and
(b) the person engages in the conduct in relation to a matter relating to that class; and
(c) the person, in so engaging, has acted within the scope of the authority granted by some only of those insurers;
the insurers referred to in paragraph (c) are jointly and severally responsible for the conduct, as between themselves and the insured or intending insured.
(1G) If:
(a) a person is the agent of more than one insurer; and
(b) the person engages in the conduct in relation to any matter relating to a class of insurance business in which the person is not the agent of any of those insurers;
the insurers are jointly and severally liable for the conduct, as between themselves and the insured or intending insured, despite the fact that the agent acted outside the scope of the authority granted by any of the insurers.
(1H) If:
(a) a person (the
principal agent ) is the agent of an insurer; and(b) the principal agent appoints a second person (the
sub‑agent ) to act as agent of the principal agent;then, for the purpose of determining the ultimate responsibility of the insurer under this section, the actions of the sub‑agent are to be taken to be the actions of the principal agent:
(c) whether the agency agreement entered into between the principal agent and the insurer permitted or forbade the principal agent to appoint the sub‑agent; and
(d) whether or not the sub‑agent acted within the scope of his or her authority.
(1J) If:
(a) a person is the agent of at least one insurer in respect of life insurance business; and
(b) the person is the agent of at least one other insurer in respect of another class of insurance business (
general insurance business );the provisions of this section do not operate:
(c) if the person engages in the conduct in relation to life insurance business—so as to make any insurer referred to in paragraph (b) responsible for the conduct; and
(d) if the person engages in conduct in relation to general insurance business—so as to make any insurer referred to in paragraph (a) responsible for the conduct.
(1K) If:
(a) a person is the agent of more than one insurer in respect of a particular class of insurance business; and
(b) the person engages in the conduct in relation to a matter relating to that class; and
(c) any one or more of the insurers enters or enter into a contract of insurance as a result of the conduct;
then, for the purposes of this section, the agent is taken, in respect of the conduct, to have acted within the scope of the authority granted by the insurer or each insurer who so entered into a contract of insurance.
(2) The responsibility of an insurer under subsection (1A), (1B), (1C), (1D), (1E), (1F), (1G) or (1H) extends so as to make the insurer liable to an insured or intending insured in respect of any loss or damage suffered by the insured or intending insured as a result of the conduct of the agent or employee.
(3) Subsections (1A), (1B), (1C), (1D), (1E), (1F), (1G), (1H) and (1J) and (2) do not affect any liability of an agent or employee of an insurer to an insured or intending insured.
(4) An agreement, in so far as it purports to alter or restrict the operation of subsection (1A), (1B), (1C), (1D), (1E), (1F), (1G), (1H), (1J) or (2), is void.
(5) An insurer shall not make, or offer to make, an agreement that is, or would be, void by reason of the operation of subsection (4).
Penalty: 150 penalty units.
(1) Subject to this section, an insurance intermediary shall be deemed, in relation to any matter relating to insurance and as between an insured or intending insured and an insurer, to be the agent of the insurer and not of the insured or intending insured.
(2) Subsection (1) does not apply to a general insurance broker in relation to any matter relating to general insurance business.
(3) Subsection (1) does not apply to a life insurance broker in relation to any matter relating to life insurance business.
(4) Subsection (1) does not affect any liability to which, if that subsection had not been enacted, an insurer would have been subject in respect of the conduct of an insurance intermediary.
(1) A person to whom this section applies shall not with intent to deceive make a false or misleading statement:
(a) as to any amount that would be payable in respect of a proposed contract of insurance; or
(b) as to the effect of any of the provisions of a contract of insurance or of a proposed contract of insurance.
(1A) A reference in subsection (1) to making a misleading statement includes a reference to omitting to disclose matter that is material to a statement.
(2) A person to whom this section applies shall not with intent to deceive, in relation to a proposed contract of insurance:
(a) write on a form, being a form that is given or sent to the insurer, matter that is material to the contract and is false or misleading in a material particular;
(b) omit to disclose to the insurer matter that is material to the proposed contract;
(c) advise or induce the intending insured to write on a form, being a form that is given or sent to the insurer, matter that is false or misleading in a material particular; or
(d) advise or induce the intending insured to omit to disclose to the insurer matter that is material to the proposed contract.
(3) A person to whom this section applies shall not with intent to deceive, in relation to a claim under a contract of insurance:
(a) fill up, in whole or in part, a form, being a form that is given or sent to the insurer, in such a way that the form is false or misleading in a material particular;
(b) omit to disclose to the insurer matter that is material to the claim;
(c) induce the insured to fill up, in whole or in part, a form, being a form that is given or sent to the insurer, in such a way that the form is false or misleading in a material particular; or
(d) advise or induce the insured to omit to disclose to the insurer matter that is material to the claim.
(4) An act done in contravention of subsection (1) or (2) constitutes an offence against the subsection concerned notwithstanding that a contract of insurance does not come into being.
(5) The persons to whom this section applies are:
(a) insurance intermediaries; and
(b) agents and employees of insurance intermediaries and of insurers.
Penalty: Imprisonment for 2 years.
Note: Subsection 4B(2) of the
Crimes Act 1914 allows a court to impose an appropriate fine instead of, or in addition to, a term of imprisonment. If a body corporate is convicted of an offence, subsection 4B(3) of that Act allows a court to impose a fine of an amount that is not greater than 5 times the maximum fine that could be imposed by a court on an individual convicted of the same offence.
(1) Where a contract of insurance is arranged or effected by an insurance intermediary, payment to the insurance intermediary of moneys payable by the insured to the insurer under or in relation to the contract, whether in respect of a premium or otherwise, is a discharge, as between the insured and the insurer, of the liability of the insured to the insurer in respect of those moneys.
(2) Payment to an insurance intermediary by or on behalf of an intending insured of moneys in respect of a contract of insurance to be arranged or effected by the intermediary, whether the payment is in respect of a premium or otherwise, is a discharge, as between the insured and the insurer, of any liability of the insured under or in respect of the contract, to the extent of the amount of the payment.
(3) Payment by an insurer to an insurance intermediary of moneys payable to an insured, whether in respect of a claim, return of premiums or otherwise, under or in relation to a contract of insurance, does not discharge any liability of the insurer to the insured in respect of those moneys.
(4) An agreement, in so far as it purports to alter or restrict the operation of subsection (1), (2) or (3), is void.
(5) Subsection (4) does not render void an agreement between an insurance intermediary and an insured in so far as the agreement allows the insurance intermediary to set off against moneys payable to the insured moneys payable by the insured to the insurance intermediary in respect of premiums.
Where a contract of insurance is entered into, or a claim under a contract of insurance is dealt with or settled, by an insurance intermediary who acted under a binder in relation to the contract or claim, the intermediary shall, with respect to the contract or claim, and with respect to all matters relating to the contract or claim, be deemed to be the agent of the insurer and not of the insured for all purposes, including the operation of section 11, and, if the insured in fact relied in good faith on the conduct of the insurance intermediary, shall be so deemed notwithstanding that the intermediary did not act within the scope of the intermediary’s authority under the binder.
(1) An insurance intermediary who intends to act under a binder in effecting a contract of insurance on behalf of the intermediary’s principal must:
(a) subject to paragraph (b), clearly inform the intending insured, before the intermediary enters into the contract, that, in effecting the contract, the intermediary will be acting under an authority given to the intermediary by the insurer to effect the contract and that the intermediary will be effecting the contract as agent of the insurer and not of the intending insured; or
(b) if it is not practicable for the intermediary to comply with paragraph (a), clearly inform the insured, as soon as is reasonably practicable after the intermediary has effected the contract, that, in effecting the contract, the intermediary acted under an authority given to the intermediary by the insurer to effect the contract and that the intermediary effected the contract as agent of the insurer and not of the insured.
Penalty: 60 penalty units.
(1A) A registered insurance broker who intends to act under an agreement of a kind referred to in section 10 in arranging a contract of insurance as agent for an insurer shall:
(a) subject to paragraph (b), clearly inform the intending insured, before the broker arranges the contract, that, in arranging the contract, the broker will be acting under an authority given by the insurer to arrange the contract and that the broker will be arranging the contract as agent of the insurer and not of the intending insured; or
(b) if it is not practicable to comply with paragraph (a), clearly inform the insured, as soon as is reasonably practicable after the broker has arranged the contract, that, in arranging the contract, the broker acted under an authority given by the insurer to arrange the contract and that the broker arranged the contract as agent of the insurer and not of the insured.
Penalty: 60 penalty units.
(2) A contract made in contravention of this section is voidable at the option of the insured, subject to:
(a) the rights of parties acquired without notice and for good or valuable consideration; and
(b) compliance with the principles of common law and of equity with respect to the avoidance of contracts.
(1) An insurance intermediary who intends to act under a binder in dealing with or settling a claim under a contract of insurance must not deal with or settle the claim on behalf of the intermediary’s principal unless the intermediary has first clearly informed the insured that, in dealing with or settling the claim, the intermediary will be acting under an authority given to the intermediary by the insurer to deal with or settle the claim and that the intermediary will be dealing with or settling the claim as agent of the insurer and not of the insured.
Penalty: 60 penalty units.
(1A) A registered insurance broker who intends to act under an agency agreement (other than a binder) with an insurer in dealing with or settling a claim under a contract of insurance must not deal with or settle the claim on behalf of the insurer unless the broker has first clearly informed the insured that, in dealing with or settling the claim, the broker:
(a) will be acting under an authority given to the broker by the insurer to deal with or settle the claim; and
(b) will be dealing with or settling the claim as agent of the insurer and not of the insured.
Penalty: 60 penalty units.
(2) A settlement of a claim made in contravention of subsection (1) or (1A) is voidable at the option of the insured, subject to:
(a) the rights of parties acquired without notice and for good or valuable consideration; and
(b) compliance with the principles of common law and of equity with respect to the avoidance of contracts.
(1) If this Act is extended to an external Territory, a reference in a provision of this Part to the commencement of this Part shall, for the purposes of the application of that provision in that Territory, be construed as a reference to the commencement of the day on which this Act was extended to that Territory or the commencement of this Part, whichever is the later.
(2) If the registration of a person as an insurance broker is suspended or cancelled or expires, sections 26, 27 and 28 continue to apply in relation to the broker or the broker’s estate in respect of matters that occurred before the suspension, cancellation or expiry as if the broker’s registration had not been suspended or cancelled or had not expired, as the case may be.
(1) A person (whether an individual or a corporation) shall not, after the expiration of 6 months after the commencement of this Part, carry on business as an insurance broker, whether alone or in partnership, in relation to life insurance business or general insurance business:
(a) unless the person is registered under this Part in respect of life insurance business or general insurance business, as the case may be; and
(b) if there are liabilities prescribed for the purposes of this paragraph—unless there is in force an acceptable contract of professional indemnity insurance within the meaning of section 9B; and
(c) if the person carries on business as an insurance broker in relation to a class of general insurance business that, under the regulations, is domestic or personal insurance business and there is in force an arrangement, approved by ASIC, for dealing with complaints against persons carrying on business as insurance brokers in relation to that class of general insurance business—unless the person is a party to the arrangement.
Note: Subsection 4B(2) of the
Crimes Act 1914 allows a court to impose an appropriate fine instead of, or in addition to, a term of imprisonment. If a body corporate is convicted of an offence, subsection 4B(3) of that Act allows a court to impose a fine of an amount that is not greater than 5 times the maximum fine that could be imposed by a court on an individual convicted of the same offence.Penalty: Imprisonment for 2 years.
(2) A person may be registered in respect of both life insurance business and general insurance business.
(3) ASIC may, by notice in writing served on the registered insurance broker concerned, declare that a contract specified in the notice is no longer an acceptable contract of professional indemnity insurance for the purposes of paragraph 19(1)(b).
(4) A notice served under subsection (3) has effect on a day specified in the notice, being a day not less than 21 days after service of the notice.
(1) A person may apply to ASIC:
(a) to be registered under this Part in respect of life insurance business or in respect of general insurance business; or
(b) to renew the person’s registration under this Part.
(2) An application under subsection (1) shall be in accordance with the approved form.
(2A) For the avoidance of doubt, it is declared that an approved form made for the purposes of subsection (2) may include the requirement to provide:
(a) information required for statistical purposes; and
(b) information that is, or may be, required to be given to ASIC under any other provision of this Act or the regulations.
(3) A person shall not with intent to deceive:
(a) make a false or misleading statement in, or omit material matter from, an approved form given to ASIC under subsection (1); or
(b) give to ASIC in connection with an application under subsection (1) information that is false or misleading in a material particular.
Penalty: Imprisonment for 2 years.
Note: Subsection 4B(2) of the
Crimes Act 1914 allows a court to impose an appropriate fine instead of, or in addition to, a term of imprisonment. If a body corporate is convicted of an offence, subsection 4B(3) of that Act allows a court to impose a fine of an amount that is not greater than 5 times the maximum fine that could be imposed by a court on an individual convicted of the same offence.
(1) Subject to subsection (2), if a person who proposes to carry on business as an insurance broker applies under section 20 for registration under this Part, ASIC must register the applicant and give the applicant a certificate of registration if:
(a) ASIC is satisfied that there is in force any contract of insurance required under paragraph 19(1)(b); and
(b) the applicant has produced to ASIC a copy of each foreign agency agreement (if any) that authorises the applicant to arrange contracts as agent for an insurer; and
(ba) if the application is for registration in respect of a class of general insurance business that, under the regulations, is domestic or personal insurance business and there is in force an arrangement, approved by ASIC, for dealing with complaints against persons carrying on that class of general insurance business¾ASIC is satisfied that the person is a party to the arrangement; and
(c) the applicant has paid the prescribed fee.
(1A) Subject to subsection (2), if:
(a) a person is registered under this Part; and
(b) the person applies under section 20 to renew the registration;
ASIC must renew the registration and give the applicant a certificate of renewal of registration if:
(c) ASIC is satisfied that there is in force in respect of the applicant any contract of insurance required under paragraph 19(1)(b); and
(d) the applicant has produced to ASIC a copy of each foreign agency agreement (if any) that authorises the applicant to arrange contracts as agent for an insurer; and
(da) if the application is for renewal of registration in respect of a class of general insurance business that, under the regulations, is domestic or personal insurance business and there is in force an arrangement, approved by ASIC, for dealing with complaints against persons carrying on that class of general insurance business¾ASIC is satisfied that the person is a party to the arrangement; and
(e) the applicant has produced, or produces, satisfactory audited accounts of the applicant’s business as an insurance broker, in respect of the accounting period ending on, or not more than 12 months before, the day that the registration would end if it is not renewed; and
(f) the applicant has paid the prescribed fee.
Note: A person can carry on business as an insurance broker only if the person is registered under this Part (see sections 19, 21 and 24).
(2) If:
(a) an applicant, or a director, employee or agent of an applicant has been convicted of an offence referred to in subsection 25(1); or
(b) an applicant, or a director, employee or agent of an applicant, is bankrupt or insolvent; or
(c) an applicant, or an associated insurance intermediary within the meaning of section 41B, has failed to discharge the ordinary obligations of an insurance intermediary as set out in decision‑making principles in force under section 41A;
ASIC may refuse to register the applicant or renew the applicant’s registration.
(3) Registration of a person and the renewal of a person’s registration each has effect for a period of one year.
(3A) Within 4 months after the end of each accounting period, a registered insurance broker must produce satisfactory audited accounts for that period to ASIC.
Penalty: 30 penalty units.
(3B) If, before the end of the 4 month period referred to in subsection (3A), ASIC grants a registered insurance broker an extension of time to produce the accounts, the broker must produce the accounts within the extended period.
Penalty: 30 penalty units.
(4) If a registered insurance broker applies to ASIC for the cancellation of the registration of the broker under this section and ASIC is satisfied that the broker is no longer carrying on business as an insurance broker in relation to life insurance business or general insurance business, as the case may be, ASIC may cancel the registration of the broker under this section in respect of the insurance business concerned.
(5) If ASIC:
(a) registers an applicant; or
(b) renews the registration of an applicant; or
(c) refuses to renew the registration of an applicant; or
(d) cancels the registration of an insurance broker under subsection (4);
ASIC must publish notice of it in the
Gazette .
(6) If:
(a) a broker provides audited accounts to ASIC under this section; and
(b) those accounts do not meet the requirement specified in paragraph (a), (b), (c), (d) or (e) of the definition of
satisfactory audited accounts in subsection (7); and(c) the broker, at the request of ASIC, gives ASIC a written explanation why the requirement has not been met;
ASIC may renew the broker’s registration if ASIC is satisfied, having regard to the explanation, that the failure of the accounts to meet that requirement is not attributable to the dishonesty, recklessness or financial mismanagement of the broker.
(7) In this section:
satisfactory audited accounts , in relation to a broker, include, but are not limited to, the following:
(a) accounts that are in an approved form;
(b) accounts that are arithmetically correct;
(c) accounts that show that the sum of:
(i) the amount of an account maintained by the broker under subsection 26(1); and
(ii) the amount of prescribed investments by the broker; and
(iii) amounts due to the broker from insurance debtors;
is equal to, or exceeds, all the broker’s insurance liabilities;
(d) accounts that indicate that the broker is able to meet the broker’s financial obligations as they fall due;
(e) accounts that contain such other information as is required by the approved form;
(f) accounts that are audited by an approved auditor.
(1) For the purposes of this Act, ASIC shall cause registers to be kept, to be known as the Register of Life Insurance Brokers and the Register of General Insurance Brokers.
(2) Subject to this Act and to any regulations, a Register shall be kept in such form and manner as ASIC directs.
A person may, on application made in accordance with the regulations and on payment of the prescribed fee (if any):
(a) inspect the Register of Life Insurance Brokers or the Register of General Insurance Brokers;
(b) inspect any accounts lodged by registered insurance brokers with ASIC;
(c) inspect a contract of insurance referred to in paragraph 19(1)(b), or a copy of such a contract, that is lodged with ASIC;
(d) inspect any document given to ASIC under paragraph 21(1)((b));
(e) inspect any document lodged with ASIC under section 25A or 25B; and
(f) make a copy of, or take extracts from, anything that the person is entitled to inspect under any of the preceding paragraphs.
(1) Where:
(a) an application for registration under section 20 is made before the expiration of 6 months after the commencement of this Part to ASIC by a person who was carrying on business as an insurance broker in relation to life insurance business or general insurance business at the commencement of this Part; and
(b) ASIC has not refused to register the applicant;
the person is not guilty of an offence under section 19 by so carrying on business as an insurance broker in relation to life insurance business or general insurance business, as the case may be, after the expiration of that period of 6 months.
(2) Where:
(a) an application by a registered insurance broker for renewal of the broker’s registration under section 20 is made to ASIC before the expiration of the period of registration; and
(b) ASIC has not renewed, or refused to renew, the registration of the broker;
then, in spite of the expiration of the period of the registration, the broker shall be deemed, for the purposes of this Act and the regulations, to be registered until ASIC renews, or refuses to renew, the broker’s registration.
(3) Subsection (1) ceases to apply to a person in relation to life insurance business or general insurance business if ASIC has, by notice in writing to the person, required the person to comply, after such period as is specified in the notice, in relation to life insurance business or general insurance business, as the case may be, with such of the provisions of this Act that are applicable to registered insurance brokers as are so specified and the person has failed to comply with any of those provisions as required by the notice.
(4) ASIC may, in writing, exempt a person to whom subsection (1) or (2) applies from the requirement to comply, in relation to life insurance business or general insurance business, as the case may be, with such provisions of this Act (not being provisions with which the person is required to comply in relation to the insurance business concerned because of a notice under subsection (3)) as are specified in the instrument of exemption.
(1) ASIC may suspend for such period as ASIC considers to be appropriate, or cancel, the registration of a person under this Part if the person, or a director, employee or agent of the person, has, whether before or after the registration took place and whether before or after the commencement of this Part, been convicted of an offence:
(a) against or arising under this Act or any law, whether of the Commonwealth, of a State or Territory, or of some other country, in respect of conduct relating to insurance; or
(b) in respect of dishonest conduct;
being an offence that, in the opinion of ASIC, renders the person unfit to carry on business as an insurance broker.
(1A) If:
(a) a person registered under this Part, or a director, employee or agent of such a person, becomes bankrupt or insolvent; or
(b) a person registered under this Part fails to discharge the ordinary obligations of an insurance intermediary as set out in decision‑making principles in force under section 41A;
ASIC may:
(c) suspend the registration of the person for such period as ASIC considers appropriate; or
(d) cancel the registration of the person.
(1AA) If:
(a) a person carries on business as an insurance broker in relation to a class of general insurance business that, under the regulations, is domestic or personal insurance business; and
(b) there is in force an arrangement, approved by ASIC, for dealing with complaints against persons carrying on that class of general insurance business; and
(c) the person is not a party to the arrangement;
ASIC may:
(d) suspend the person’s registration until the person becomes a party to the arrangement; or
(e) cancel the person’s registration.
(1B) If:
(a) ASIC renews the registration of a broker after having regard to the audited accounts provided for a particular accounting period; and
(b) during the period of the continued registration audited accounts for the next accounting period are provided to ASIC; and
(c) ASIC is satisfied that those accounts are such that a further application for the renewal of registration would be refused;
ASIC may, despite the fact that the period of renewed registration has not ended:
(d) suspend registration of the broker for such period as ASIC considers appropriate; or
(e) cancel the registration of the broker.
(2) While the registration of a person under this Part is suspended, the person shall be deemed not to be registered under this Part.
(3) Notwithstanding subsection (2), a person whose registration is suspended may carry on such of the person’s business as an insurance broker as ASIC specifies in writing, for such time and subject to such conditions (if any) as ASIC by writing signed by him or her, specifies.
(4) A person shall not carry on business as an insurance broker after the time specified under subsection (3) in relation to the person or fail to comply with a condition under that subsection that is applicable to the person.
Penalty: Imprisonment for 2 years.
Note: Subsection 4B(2) of the
Crimes Act 1914 allows a court to impose an appropriate fine instead of, or in addition to, a term of imprisonment. If a body corporate is convicted of an offence, subsection 4B(3) of that Act allows a court to impose a fine of an amount that is not greater than 5 times the maximum fine that could be imposed by a court on an individual convicted of the same offence.(5) Where ASIC cancels the registration of a person, ASIC may, in writing, specify a period during which the person is to be disqualified from registration and, where a period is so specified in relation to a person, the person is disqualified from registration during that period.
(6) A person shall not be registered under this Part while the person’s registration is suspended or while the person is disqualified from registration.
(7) Where ASIC suspends or cancels under this section the registration of a person under this Part, ASIC shall cause notice of the suspension or cancellation to be published in the
Gazette .
(1) A person who:
(a) has been a registered insurance broker at any time during a particular accounting period of the person; and
(b) during that period, arranged any contract of general insurance with an unauthorised foreign insurer (whether as agent for the insurer or as agent for the intending insured);
shall lodge with ASIC a return with respect to the person’s activities as an insurance intermediary during that period (not including any part of the period when the person was not registered).
Penalty: 30 penalty units.
(2) The return:
(a) must be in an approved form;
(b) must contain such information as is required by the form;
(c) must be accompanied by a report of an approved auditor in accordance with the regulations;
(d) unless paragraph (e) applies—must be lodged within 4 months after the end of the accounting period to which it relates; and
(e) if, before the end of the lodgment period referred to in paragraph (d), ASIC grants an extension of the lodgment period—must be lodged within the extended period.
(3) Subsection 25(2) does not apply for the purposes of this section.
(1) Where:
(a) a foreign agency agreement is entered into in relation to a registered insurance broker; or
(b) a foreign agency agreement in relation to a registered insurance broker (whether entered into before or after the commencement of this section) is altered or terminated;
the broker shall, within 21 days after the agreement is entered into or the alteration or termination occurs:
(c) in the case of the entering into, or the alteration of, an agreement—lodge with ASIC a copy of the agreement or of the alteration, as the case may be; or
(d) in the case of the termination of an agreement—notify ASIC in writing of the termination.
Penalty: 30 penalty units.
(2) Subsection 25(2) does not apply for the purposes of this section.
(1) A registered insurance broker must keep records that record and explain:
(a) the transactions engaged in by the broker to carry on business as an insurance broker; and
(b) the financial position of the broker.
(2) The records must be kept so that the broker’s accounts can be properly prepared and audited.
(3) A broker must not, without reasonable excuse, contravene a requirement under this section.
Penalty: 100 penalty units.
(1) A registered insurance broker:
(a) must pay into an account maintained by the broker with a bank solely for the purposes of this section all moneys received by the broker:
(i) from or on behalf of an insured or intending insured for or on account of an insurer in connection with a contract of insurance or proposed contract of insurance; or
(ii) from or on behalf of an insurer for or on account of an insured or intending insured; and
(b) may pay into that account any moneys received by the broker from or on behalf of:
(i) an insured or intending insured; or
(ii) an insurer;
on the broker’s own account in connection with a contract of insurance or proposed contract of insurance.
(1B) If money referred to in subsection (1) is paid to a person who is the agent of a registered insurance broker, the money is taken to have been paid to the broker at the time when it is received by the agent, whether or not the agent acted within the scope of authority granted by the broker.
(2) An account maintained under subsection (1) shall be called an
Insurance Broking Account , with or without other words of description.(3) Except with the written consent of ASIC, a registered insurance broker must take all reasonable steps to ensure that, at all times, the sum of:
(a) the balance of an account maintained by the broker under subsection (1); and
(b) the total amount previously withdrawn from the account and currently invested under subsection (4);
is greater than or equal to the sum of:
(c) any amounts that an insurer is entitled to receive from the account; and
(d) any amounts that an insured or intending insured is entitled to receive from the account.
(3A) For the purposes of paragraph (3)(c), if, at a particular time, money received by a registered insurance broker for or on account of an insurer as mentioned in subparagraph (1)(a)(i) is paid into an account, the insurer is taken to be entitled to receive payment of:
(a) the amount; or
(b) if any deductions from the amount are authorised by a written agreement between the insurer and the broker—the amount less the deductions;
throughout the period:
(c) beginning at that time; and
(d) ending when the payment is actually made to the insurer;
even if the amount has been invested under subsection (4).
(3B) For the purposes of paragraph (3)(d), if, at a particular time, money received by a registered insurance broker for or on account of an insured or intending insured as mentioned in subparagraph (1)(a)(ii) is paid into an account, the insured or intending insured is taken to be entitled to receive payment of the amount throughout the period:
(a) beginning at that time; and
(b) ending when the payment is actually made to the insured or intending insured;
even if the amount has been invested under subsection (4).
(4) A registered insurance broker may invest in such manner as is prescribed moneys included in an account maintained by the broker under subsection (1) that were received by the broker from an insured or intending insured for or on account of an insurer in connection with a contract of insurance (not being a contract of life insurance).
(5) A registered insurance broker shall pay moneys received from the realization of an investment made under subsection (4) into an account maintained by the broker under subsection (1).
(6) If, upon the realization of an investment made under subsection (4), an amount is received in respect of the realization that is less than the amount invested, the registered insurance broker shall pay into the account from which the moneys were withdrawn for investment an amount equal to the difference between the amount invested and the amount received.
(7) If, upon the realization of an investment under subsection (4), an amount is received in respect of the realization that is greater than the amount invested, the registered insurance broker may retain for the broker’s own benefit the amount by which the amount received exceeds the amount invested and need not pay it into, or retain it in, an account maintained under subsection (1).
(8) Interest, dividends or other income received by a registered insurance broker from an account maintained under subsection (1) or from an investment made under subsection (4) may be retained by the broker for the broker’s own benefit and need not be paid into, or retained in, an account maintained under subsection (1).
(9) Moneys received by a registered insurance broker as mentioned in subsection (1) or (5), both before and after those moneys are paid into an account maintained under subsection (1), moneys paid into such an account under subsection (6) and securities in which moneys are invested under subsection (4) are not capable of being attached or otherwise taken in execution or of being made subject to a set‑off, charge or charging order or to any process of a like nature.
(10) Nothing in subsection (9) prevents moneys or securities being attached, taken in execution or made the subject of a set‑off, charge, charging order or like process at the suit of a person for whom or on whose account moneys have been paid into the relevant account maintained under subsection (1) and to whom or on whose account payment in respect of those moneys has not been made.
(11) This section does not make a bank subject to any liability by reason only of a failure of a registered insurance broker to comply with any of the provisions of this section.
Penalty: Imprisonment for 2 years.
Note: Subsection 4B(2) of the
Crimes Act 1914 allows a court to impose an appropriate fine instead of, or in addition to, a term of imprisonment. If a body corporate is convicted of an offence, subsection 4B(3) of that Act allows a court to impose a fine of an amount that is not greater than 5 times the maximum fine that could be imposed by a court on an individual convicted of the same offence.
(1) Where:
(a) money is received by a registered insurance broker from, or on behalf of, an insured or intending insured, or from another registered insurance broker on behalf of an insured or intending insured, as a premium or an instalment of a premium in connection with a contract of insurance or a proposed contract of insurance;
(b) the risk, or a part of the risk, to which the contract or proposed contract relates is accepted by or on behalf of an insurer; and
(c) the broker who so received the money is informed of, or otherwise ascertains, the amount of the premium or instalment to be paid;
the broker who so received the money shall pay, in accordance with subsection (2), to the insurer by whom or on whose behalf the risk, or a part of the risk, to which the contract or proposed contract relates is accepted an amount equal to so much of the money as does not exceed the amount of the premium or instalment to be paid.
(2) An amount payable by a registered insurance broker to an insurer under subsection (1) shall be paid:
(a) subject to paragraph (b), within the period (in this section referred to as the
relevant period ) of 90 days after the day on which the cover provided by the insurer under the contract commences to have effect or the first day of the period to which the instalment relates, as the case may be; or(b) if it is not practicable for the broker to pay the amount within the relevant period—as soon after the expiration of that period as it is reasonably practicable for the broker to do so.
(3) Where the amount of the premium, or of an instalment of the premium, payable in respect of a contract of insurance has not been received by a registered insurance broker at the expiration of the relevant period, the broker, unless the broker receives the amount before notifying the insurer in accordance with this subsection, shall notify the insurer in writing, within 7 days after the day on which the relevant period expired, that the broker has not received the amount.
(4) Where:
(a) money is received by a registered insurance broker from, or on behalf of, an insured or intending insured, or from another registered insurance broker on behalf of an insured or intending insured, as a premium or an instalment of a premium in connection with a contract of insurance or a proposed contract of insurance;
(b) the risk, or a part of the risk, to which the contract or proposed contract relates is accepted by or on behalf of an insurer; and
(c) the broker who so received the money has not been informed of, and has not otherwise ascertained, the amount of the premium or instalment to be paid;
the broker who so received the money shall pay, to the insurer by whom or on whose behalf the risk, or a part of the risk, to which the contract or proposed contract relates is accepted, within the relevant period, or if it is not practicable for the broker to make the payment within the relevant period, as soon after the expiration of that period as it is reasonably practicable for the broker to do so:
(d) in respect of a new contract of insurance, an amount not less than:
(i) the amount of the money so received; or
(ii) 75% of the amount fairly estimated by the broker to be the premium or instalment, as the case may be, that is to be paid;
whichever is the smaller amount; or
(e) in respect of a renewal of a contract of insurance, an amount not less than:
(i) the amount of the money so received; or
(ii) 75% of the previous year’s premium for the risk or of the last instalment of that year’s premium, as the case may be;
whichever is the smaller amount.
(5) Where:
(a) the risk, or a part of the risk, to which a contract of insurance or a proposed contract of insurance relates is accepted by or on behalf of an insurer;
(b) the contract of insurance or proposed contract of insurance has been, or is being, arranged or effected by a registered insurance broker, either directly or through another registered insurance broker; and
(c) the first‑mentioned broker has not been informed of, and has not otherwise ascertained, the amount of a premium or of an instalment of a premium to be paid in connection with the contract or proposed contract;
that broker shall, unless the broker is informed of, or otherwise ascertains, the amount of the premium or instalment to be paid before notifying the insurer in accordance with this subsection, notify the insurer in writing, within 10 days after the day on which the risk, or that part of the risk, was so accepted, that the risk, or that part of the risk, has been so accepted but that the broker does not know the amount of the premium or instalment to be paid.
(6) Nothing in the foregoing provisions of this section prevents:
(a) an insurer from making a contract or arrangement with an insurance broker providing for the broker to pay an amount to the insurer before the time by which the broker is required by the provision concerned to pay that amount to the insurer;
(b) an insurer from authorizing an insurance broker in writing to pay on behalf of the insurer, out of the money received by the broker as a premium or instalment of a premium in respect of a contract of insurance arranged with the insurer, any charges required by law to be paid by the insurer in respect of the contract; or
(c) an insurance broker from exercising any legal right available to the broker to deduct from any moneys payable by the broker to the insurer any remuneration payable by the insurer to the broker in relation to a contract of insurance.
(7) If the risk, or a part of the risk, to which a contract or proposed contract referred to in subsection (1) or (4) relates is accepted on behalf of an insurer by an insurance intermediary other than the registered insurance broker who received the moneys from or on behalf of the insured or intending insured, then, for the purposes only of the application of the subsection concerned to the broker, payment of the premium, or part of the premium, as the case may be, by the broker to the intermediary shall be taken to constitute payment of the premium or part of the premium by the broker to the insurer.
(8) Where a registered insurance broker is required to notify an insurer in accordance with subsection (3) or (5) and an insurance intermediary other than the broker has accepted the risk, or a part of the risk, to which the contract or proposed contract relates on behalf of the insurer, then, for the purposes only of the application of the subsection concerned to the broker, notification by the broker to the intermediary shall be taken to constitute notification by the broker to the insurer.
(9) If:
(a) a registered insurance broker receives money from, or on behalf of, an insured or intending insured in connection with a contract of insurance or proposed contract of insurance; and
(b) at the end of 30 days after the day on which the money was received, the risk, or a part of the risk, to which the contract or proposed contract relates has not been accepted;
subsection (9A) or (9B) applies to the broker.
(9A) If the risk to which the contract or proposed contract relates has not been accepted, the broker must, within 7 days after the end of the 30 day period:
(a) give notice in the approved form (if any) to the insured or intending insured that the risk has not been accepted; and
(b) return the money to the insured or intending insured.
(9B) If a part of the risk to which the contract or proposed contract relates has not been accepted, the broker must, within 7 days after the end of the 30 day period:
(a) give notice in the approved form (if any) to the insured or intending insured of the extent to which the risk has not been accepted; and
(b) return that part of the money that relates to the part of the risk that has not been accepted to the insured or intending insured.
(10) Where a registered insurance broker receives money from, or on behalf of, an insurer for payment to, or on behalf of, an insured, the broker shall pay an amount equal to the money to, or on behalf of, the insured:
(a) subject to paragraph (b), within 7 days after the day on which the broker received the money; or
(b) if it is not practicable for the broker to pay the amount within that period—as soon after the expiration of that period as it is reasonably practicable for the broker to pay the amount.
(11) Nothing in subsection (10) prevents:
(a) an insured from making a contract or arrangement with a registered insurance broker providing for the broker to pay an amount referred to in that subsection to or on behalf of the insured before the time by which the broker is required by that subsection to pay that amount to or on behalf of the insured; or
(b) an insurance broker from exercising any legal right available to the broker to deduct from an amount payable by the broker to the insured any money payable by the insured to the broker in connection with a contract of insurance.
(12) An act done in contravention of subsection (1), (2), (3), (4), (5), (9) or (10) constitutes an offence against the subsection concerned notwithstanding that it was done with the consent of the insurer or of the insured or intending insured, as the case may be.
Penalty: Imprisonment for 2 years.
Note: Subsection 4B(2) of the
Crimes Act 1914 allows a court to impose an appropriate fine instead of, or in addition to, a term of imprisonment. If a body corporate is convicted of an offence, subsection 4B(3) of that Act allows a court to impose a fine of an amount that is not greater than 5 times the maximum fine that could be imposed by a court on an individual convicted of the same offence.(13) Where:
(a) under subsection (1), (2), (3), (4) or (5), a broker is required to pay an amount to, or to notify, an insurer; and
(b) under the contract or proposed contract of insurance concerned the insurer is an underwriting member of Lloyd’s;
it is sufficient compliance with the subsection if the broker pays the amount to, or notifies, as the case may be, the Lloyd’s broker concerned.
(14) In subsection (13),
Lloyd’s has the same meaning as in theInsurance Act 1973 .
(1) This section applies to and in relation to a registered insurance broker:
(a) who has become an insolvent under administration; or
(b) that is an insolvent company under administration;
or to and in relation to the estate of a deceased insurance broker that is being administered under Part XI of the
Bankruptcy Act 1966 or under the law of an external Territory providing for the administration of insolvent estates of deceased persons.
(2) This section applies notwithstanding anything to the contrary contained in the
Bankruptcy Act 1966 or in a law (including a law of a State or Territory) that relates to companies.(3) Moneys in an account maintained with a bank by the broker under subsection 26(1), and securities in which moneys have been invested under subsection 26(4), shall be treated as though they were subject to a trust in favour of the persons who, under subsection 26(3A) or (3B), are taken to be entitled to receive payment from that account.
(4) Moneys from such an account shall be paid as follows:
(a) first, moneys that have been paid into the account in error shall be withdrawn from the account;
(b) secondly, insureds shall be paid the amounts they are entitled to receive from the moneys in the account in respect of claims made pursuant to contracts of insurance;
(c) thirdly, insureds shall be paid the amounts (other than amounts to which paragraph (b) applies) they are entitled to receive from the moneys in the account;
(d) fourthly, after all payments have been made under paragraphs (b) and (c), insurers shall be paid the amounts they are entitled to receive from the moneys in the account.
(5) If the moneys in the account that are available to make payments required under a particular paragraph (other than paragraph (a)) of subsection (4) are not sufficient to meet those payments in full, the payments required under the paragraph concerned shall be made proportionally.
(6) Any moneys remaining after all payments have been made under subsection (4) shall be taken to be moneys payable to the broker.
(7) Nothing in the preceding provisions of this section prevents moneys in the account being invested as mentioned in subsection 26(4) by a person, other than the broker, who has lawful custody or control of the moneys.
(1) A life insurance broker is not bound by an agreement, arrangement or understanding with an insurer in so far as the agreement, arrangement or understanding requires the broker to arrange or effect some or all contracts of life insurance, or some or all contracts of life insurance of a particular class, with that insurer only and with no other insurer.
(2) A general insurance broker is not bound by an agreement, arrangement or understanding with an insurer in so far as the agreement, arrangement or understanding requires the general insurance broker to arrange or effect some or all contracts of insurance (other than contracts of life insurance), or some or all contracts of insurance (other than contracts of life insurance) of a particular class, with that insurer only and with no other insurer.
(3) Neither subsection (1) nor (2) applies to so much of an agreement, arrangement or understanding as relates to contracts of insurance effected under a binder.
(4) The operation of subsections (1) and (2) extends to agreements, arrangements and understandings made or entered into before the commencement of this section or, in relation to an external Territory to which this Act extends, before this section commences to have effect in that Territory.
(5) A person shall not:
(a) make, or offer to make, an agreement or arrangement, or enter into, or offer to enter into, an understanding, that, under the preceding provisions of this section, would not be binding on the person; or
(b) act upon or under such an agreement, arrangement or understanding.
Penalty: Imprisonment for 1 year.
Note: Subsection 4B(2) of the
Crimes Act 1914 allows a court to impose an appropriate fine instead of, or in addition to, a term of imprisonment. If a body corporate is convicted of an offence, subsection 4B(3) of that Act allows a court to impose a fine of an amount that is not greater than 5 times the maximum fine that could be imposed by a court on an individual convicted of the same offence.
(1) A life insurance broker (not being also a general insurance broker) shall not describe the broker or the broker’s business in a way that would be likely to lead a person into believing that the broker is a general insurance broker as well as a life insurance broker.
(2) A general insurance broker (not being also a life insurance broker) shall not describe the broker or the broker’s business in a way that would be likely to lead a person into believing that the broker is a life insurance broker as well as a general insurance broker.
(3) A registered insurance broker shall not, after the commencement of this Part, carry on business under a name that would be likely to mislead a person into believing that the broker is an insurer.
Penalty: Imprisonment for 6 months.
Note: Subsection 4B(2) of the
Crimes Act 1914 allows a court to impose an appropriate fine instead of, or in addition to, a term of imprisonment. If a body corporate is convicted of an offence, subsection 4B(3) of that Act allows a court to impose a fine of an amount that is not greater than 5 times the maximum fine that could be imposed by a court on an individual convicted of the same offence.
(1) A life insurance broker (not being also a general insurance broker) shall not, as agent of an insurer in respect of general insurance business, do any act, for or in relation to an intending insured, in respect of insurance other than life insurance unless the broker has first informed the intending insured that, in doing that act, the broker would be acting as agent of the insurer and not of the intending insured.
(2) A general insurance broker (not being also a life insurance broker) shall not, as agent of an insurer in respect of life insurance business, do any act, for or in relation to an intending insured, in respect of life insurance unless the broker has first informed the intending insured that, in doing that act, the broker would be acting as agent of the insurer and not of the intending insured.
Penalty: 60 penalty units.
If this Act is extended to an external Territory, a reference in a provision of this Part to the commencement of this Part shall, for the purposes of the application of that provision in that Territory, be construed as a reference to the commencement of the day on which this Act was extended to that Territory or the commencement of this Part, whichever is the later.
(1) A person (whether an individual or a corporation) shall not, after the expiration of 6 months after the commencement of this Part, carry on business as a foreign insurance agent, whether alone or in partnership, unless:
(a) both of the following conditions are satisfied:
(i) the person is a registered insurance broker;
(ii) if there are liabilities prescribed for the purposes of this subparagraph—there is in force an acceptable contract of professional indemnity insurance within the meaning of section 9B; or
(b) both of the following conditions are satisfied:
(i) the person is a registered foreign insurance agent;
(ii) if there are liabilities prescribed for the purposes of this subparagraph—there is in force an acceptable contract of professional indemnity insurance within the meaning of section 9B.
Penalty: Imprisonment for 2 years.
Note: Subsection 4B(2) of the
Crimes Act 1914 allows a court to impose an appropriate fine instead of, or in addition to, a term of imprisonment. If a body corporate is convicted of an offence, subsection 4B(3) of that Act allows a court to impose a fine of an amount that is not greater than 5 times the maximum fine that could be imposed by a court on an individual convicted of the same offence.(2) ASIC may, by notice in writing served on the registered insurance broker or registered foreign insurance agent concerned, declare that a contract specified in the notice is no longer an acceptable contract of professional indemnity insurance for the purposes of subparagraph (1)(a)(ii) or (b)(ii).
(3) A notice served under subsection (2) has effect on a day specified in the notice, being a day not less than 21 days after service of the notice.
(1) A person who wants to be registered under this Part may apply to ASIC accordingly.
(2) The application shall be in accordance with the approved form.
(3) To avoid doubt, an approved form made for the purposes of subsection (2) may include the requirement to provide:
(a) information for statistical purposes; and
(b) information that is, or may be, required to be given to ASIC under any other provision of this Act or the regulations.
(4) A person shall not, with intent to deceive:
(a) make a false or misleading statement in, or omit material matter from, an approved form given to ASIC under subsection (1); or
(b) give to ASIC, in connection with an application under this section, information that is false or misleading in a material particular.
Penalty for contravention of this subsection: Imprisonment for 2 years.
Note: Subsection 4B(2) of the
Crimes Act 1914 allows a court to impose an appropriate fine instead of, or in addition to, a term of imprisonment. If a body corporate is convicted of an offence, subsection 4B(3) of that Act allows a court to impose a fine of an amount that is not greater than 5 times the maximum fine that could be imposed by a court on an individual convicted of the same offence.
(1) Subject to this section, where an application is made to ASIC under section 31C, ASIC shall register the applicant, and give the applicant a certificate of registration, if:
(a) ASIC is satisfied that the contract requirements of subparagraph 31B(1)(b)(ii) (if applicable) are satisfied in respect of the applicant;
(b) the applicant has paid such fee as is prescribed; and
(c) the applicant has given to ASIC a copy of each foreign agency agreement that authorises the applicant to arrange contracts as agent for an insurer.
(2) If:
(a) an applicant, or a director, employee or agent of an applicant has been convicted of an offence referred to in subsection 31H(1); or
(b) an applicant, or a director, employee or agent of an applicant, is bankrupt or insolvent; or
(c) an applicant, or an associated insurance intermediary within the meaning of section 41B, has failed to discharge the ordinary obligations of an insurance intermediary as set out in decision‑making principles in force under section 41A;
ASIC may refuse to register the applicant.
(3) Registration of a person under this section has effect for a period of one year.
(4) If:
(a) a registered foreign insurance agent applies to ASIC for cancellation of registration under this section; and
(b) ASIC is satisfied that the person is no longer carrying on business as a foreign insurance agent;
ASIC may cancel the registration.
(5) Where ASIC:
(a) registers an applicant under this section; or
(aa) refuses to renew the registration of an applicant under this section; or
(b) cancels the registration of a registered foreign insurance agent under this section;
ASIC shall cause notice of the registration, refusal or cancellation to be published in the
Gazette .
(1) For the purposes of this Act, ASIC shall cause to be kept a Register of Foreign Insurance Agents.
(2) Subject to this Act and to any regulations, the Register shall be kept in such form and manner as ASIC directs.
A person may, on application made in accordance with the regulations and on payment of the prescribed fee (if any):
(a)
(ii) is in a position of influence or control over the operations of the subject intermediary; and
(iii) if the agent of the subject intermediary was an employee or agent of the failed intermediary—was in a position of influence or control over the operations of the failed intermediary.
(2) In subsection (1):
(a) a reference to a principal of an insurance intermediary is a reference to the principal of an insurance intermediary that is not a corporation and includes a sole trader; and
(b) a reference to an employee or agent of an insurance intermediary includes a reference to an employee or agent of an insurance intermediary that is not a corporation.
(1) An application may be made to the Administrative Appeals Tribunal for review of a decision of ASIC under this Act other than a decision to delegate a power under section 47.
(2) In this section,
decision has the same meaning as in theAdministrative Appeals Tribunal Act 1975 .
(1) Where ASIC makes a decision of a kind referred to in section 42 and gives to a person or persons whose interests are affected by the decision notice in writing of the making of the decision, that notice shall include a statement to the effect that, subject to the
Administrative Appeals Tribunal Act 1975 , application may be made to the Administrative Appeals Tribunal for review of the decision to which the notice relates by or on behalf of a person or persons whose interests are affected by the decision.(2) Any failure to comply with the requirements of subsection (1) in relation to a decision does not affect the validity of the decision.
The regulations may make provision as to the inspection or audit of the books, accounts and records kept by registered insurance brokers or registered foreign insurance agents.
(1) An offence against this Act that is committed by a natural person and the maximum punishment for which is a pecuniary penalty exceeding $2,000 or a period of imprisonment exceeding one year, or both, is an indictable offence.
(2) An offence against this Act that is committed by a corporation and the maximum punishment for which is a pecuniary penalty exceeding $5,000 is an indictable offence.
(3) Notwithstanding that an offence against this Act is an indictable offence, a court of summary jurisdiction may hear and determine proceedings in respect of such an offence if the court is satisfied that it is proper to do so and the defendant and the prosecutor consent.
(4) Where, in accordance with subsection (3), a court of summary jurisdiction convicts a person of an offence against this Act, the penalty that the court may impose is:
(a) in the case of a natural person—a fine not exceeding $1,000 or imprisonment for a period not exceeding 6 months, or both; or
(b) in the case of a corporation—a fine not exceeding $10,000.
(5) An offence against this Act, other than an offence that by virtue of subsection (1) or (2) is an indictable offence, may be prosecuted summarily.
(1) Despite anything in any other Act, proceedings for the summary prosecution of an offence against this Act may be brought at any time within the period of 3 years after the commission of the offence.
(2) If the Attorney‑General consents in writing proceedings may be brought at any later time.
(1) ASIC may appoint in writing:
(a) a staff member of ASIC (within the meaning of the
Australian Securities and Investments Commission Act 2001 ); or(b) an APRA staff member (within the meaning of the
Australian Prudential Regulation Authority Act 1998 );as an authorised officer for the purposes of a specified provision of this Act.
(2) The appointment may be restricted to a particular function or power under the provision.
(1) The Governor‑General may make regulations, not inconsistent with this Act, prescribing matters:
(a) required or permitted by this Act to be prescribed; or
(b) necessary or convenient to be prescribed for carrying out or giving effect to this Act;
and, in particular, prescribing:
(c) penalties, not exceeding a fine of 10 penalty units, in respect of offences against the regulations; and
(d) fees payable in respect of any matter under this Act or the regulations.
(2) The regulations may make different provisions with respect to persons carrying on business in relation to life insurance business and persons carrying on business in relation to general insurance business.
The
For application, saving or transitional provisions made by the
All relevant information pertaining to application, saving or
transitional provisions prior to 30 June 1997 is not included in this compilation. For subsequent information
Act | Number and year | Date of Assent | Date of commencement | Application, saving or transitional provisions | |
75, 1984 | 25 June 1984 | S. 10: 1 July 1986 (
S. 12: 1 Aug 1988 (
Ss. 18-31: 1 Jan 1986 (
S. 37: 1 Mar 1987 ( Remainder: Royal Assent | |||
76, 1986 | 24 June 1986 | S. 3: | S. 9 | ||
168, 1986 | 18 Dec 1986 | S. 3: Royal Assent | S. 5(1) | ||
99, 1987 | 5 Nov 1987 | 23 Nov 1987 ( | — | ||
38, 1988 | 3 June 1988 | S. 3: Royal Assent | S. 5(1), (3) and (4) | ||
16, 1989 | 20 Apr 1989 | Part I (ss. 1, 2), ss. 3, 4, Part III (ss. 7, 8), Part V (ss. 19, 20), ss. 21, 22(1), 24, 25, 26(b)-(d), 26(2), 33(b), 34(1), 35-37, 40-44, 45(c) and 46: 18 May 1989 Remainder: 20 Oct 1989 | Ss. 12(2) and 14(2) | ||
149, 1991 | 21 Oct 1991 | 1 Nov 1991 | S. 3 | ||
210, 1992 | 24 Dec 1992 | S. 125: 23 June 1993 ( | — | ||
48, 1994 | 7 Apr 1994 | Ss. 1-3, 10 and 40: Royal Assent S. 41: 6 Jan 1992
Remainder: 1 Oct 1994 ( | Ss. 35-39 | ||
| |||||
| 43, 1996 | 25 Oct 1996 | Schedule 3 (items 33, 34): 7 Apr 1994 | — | |
| 107, 1997 | 30 June 1997 | Schedule 10
(item 1): 1 Oct 1994 | — | |
5, 1995 | 23 Feb 1995 | 1 July 1995 ( s. 2 and | — | ||
43, 1996 | 25 Oct 1996 | Schedule 2 (items 67, 68): | — | ||
39, 1997 | 17 Apr 1997 | 1 July 1997 | — | ||
107, 1997 | 30 June 1997 | Schedule 7 (items 1, 12, 24, 25):
1 Oct 1994 Schedule 7 (items 2-11, 13-23,
26-75): Royal Assent | Sch. 7 (item 75) [ | ||
35, 1998 | 22 Apr 1998 | Schedule 1: 30 Apr 1998 (
Schedule 2 (items 1-26, 28-32): 1 July 2000 ( Remainder: Royal Assent | Sch. 1 (items
73-76) [ | ||
48, 1998 | 29 June 1998 | Schedule 1 (items 114, 115): 1 July 1998 ( | — | ||
54, 1998 | 29 June 1998 | Schedule 10 (items 1-64):
1 July 1998 (
No. S316) | — | ||
44, 1999 | 17 June 1999 | Schedule 7 (items 114-116): 1 July 1999 ( | S. 3(2)(e) (am. by 160, 2000, Sch. 4 [item 4]) | ||
| |||||
| 160, 2000 | 21 Dec 2000 | Schedule 1 (item 21): Royal Assent Remainder: 18 Jan 2001 | — | |
11, 2000 | 15 Mar 2000 | Schedule 2 (item 1): Royal Assent | — | ||
137, 2000 | 24 Nov 2000 | Ss. 1‑3 and Schedule 1 (items 1, 4, 6, 7, 9‑11, 32): Royal Assent Remainder: 24 May 2001 | Sch. 2 (items 418, 419) [ | ||
55, 2001 | 28 June 2001 | Ss. 4‑14 and Schedule 3 (items 291‑295): 15
July 2001 ( | Ss. 4‑14 | ||
123, 2001 | 27 Sept 2001 | Schedule 1 (item 245): 11 Mar 2002 ( | — | ||
146, 2001 | 1 Oct 2001 | S. 4 and Schedule 5 (item 9): 15 Dec 2001 | S. 4 [ | ||
(a) TheInsurance (Agents and Brokers) Act 1984 was amended by section 3 only of theStatute Law (Miscellaneous Provisions) Act (No. 1) 1986 , subsection 2(10) of which provides as follows:
(10) The amendment of subsection 26(4) of the
Insurance (Agents and Brokers) Act 1984 made by this Act shall come into operation, or shall be deemed to have come into operation, as the case may be, immediately after that subsection comes or came into operation.Subsection 26(4) commenced on 1 January 1986 (
see Gazette 1985, No. S551).
(b) TheInsurance (Agents and Brokers) Act 1984 was amended by section 3 only of theStatute 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.
(c) TheInsurance (Agents and Brokers) Act 1984 was amended by section 3 only of theStatute 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.
(d) TheInsurance (Agents and Brokers) Act 1984 was amended by section 125 only of theCorporate 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.
(e) TheInsurance Laws Amendment Act 1994 was amended by Schedule 3 (items 33 and 34) only of theStatute Law Revision Act 1996 , subsection 2(3) of which provides as follows:
(3) Each item in Schedule 3 is taken to have commenced when the Act containing the provision amended by the item received the Royal Assent.
(f) TheInsurance Laws Amendment Act 1994 was amended by Schedule 10 (item 1) only of theFinancial Laws Amendment Act 1997 , subsection 2(4) of which provides as follows:
(4) Schedule 10 is taken to have commenced on 1 October 1994, immediately after the commencement of section 34 of, and the Schedule to, the
Insurance Laws Amendment Act 1994 .
(g) TheInsurance (Agents and Brokers) Act 1984 was amended by Schedule 2 (items 67 and 68) only of theStatute Law Revision Act 1996 , subsection 2(2) of which provides as follows:
(2) Each item in Schedule 2 commences or is taken to have commenced (as the case requires) at the time specified in the note at the end of the item.
Items 67 and 68 are taken to have commenced immediately after the commencement of section 28 of the
Insurance Laws Amendment Act 1994 .Section 28 commenced on 1 October 1994 (
see Gazette 1994, No. GN38).
(h) TheInsurance (Agents and Brokers) Act 1984 was amended by Schedule 7 (items 1–75) only of theFinancial Laws Amendment Act 1997 , subsections 2(1) and (3) of which provide as follows:
(1) Subject to this section, this Act commences on the day on which it receives the Royal Assent.
(3) Items 1, 12, 24 and 25 in Schedule 7 are taken to have commenced on 1 October 1994, immediately after the commencement of Part 3 of the
Insurance Laws Amendment Act 1994 .
(i) TheInsurance (Agents and Brokers) Act 1984 was amended by Schedule 1 (items 114 and 115) only of theFinancial 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 .
(j) TheInsurance (Agents and Brokers) Act 1984 was amended by Schedule 10 (items 1–64) only of theFinancial Sector Reform (Amendments and Transitional Provisions) Act 1998, subsections 2(2)(h) and (11)(a) of which provide as follows:
(2) The following provisions of this Act commence on the commencement of the
Australian Prudential Regulation Authority Act 1998 :
. (h) Parts 1 to 3 of Schedule 10;
(11) The items in Part 4 of Schedule 10 listed in the table commence:
(a) on the commencement of the
Australian Prudential Regulation Authority Act 1998 if the corresponding item of Schedule 1 to theInsurance Laws Amendment Act 1998 commences before the commencement of the corresponding item; or
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(k) TheInsurance (Agents and Brokers) Act 1984 was amended by Schedule 7 (items 114–116) only of theFinancial Sector Reform (Amendments and Transitional Provisions) Act (No. 1) 1999 , subsections 3(2)(e) and (16) of which provide as follows:
(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.
(l) TheInsurance (Agents and Brokers) Act 1984 was amended by Schedule 2 (item 1) only of theExport Finance and Insurance Corporation Amendment Act 2000 , 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) TheInsurance (Agents and Brokers) Act 1984 was amended by Schedule 3 (items 291‑295) only of theCorporations (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 .
(n) TheInsurance (Agents and Brokers) Act 1984 was amended by Schedule 1 (item 245) only of theFinancial 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 theFinancial Services Reform Act 2001 .
(6) Subject to subsections (7) to (17), the other items of Schedule 1 commence on the FSR commencement.
(o) TheInsurance (Agents and Brokers) Act 1984 was amended by Schedule 5 (item 9) only of theTreasury Legislation Amendment (Application of Criminal Code) Act (No. 2) 2001 , subsection 2(1) of which provides as follows:
(1) Subject to this section, this Act commences on the day mentioned in subsection 2.2(2) of the
Criminal Code .
| ||
Provision affected | How affected | |
S. 5A......................................... | ad. No. 146, 2001 | |
S. 7........................................... | am. No. 149, 1991; No. 44, 1999; No. 11, 2000 | |
S. 9........................................... |
| |
S. 9A......................................... | ad. No. 16, 1989 | |
Ss. 9B, 9C................................ | ad. No. 48, 1994 | |
am. No. 54, 1998 | ||
S. 9D........................................ | ad. No. 35, 1998 | |
S. 10......................................... |
| |
Note to s. 10............................. | ad. No. 107, 1997 | |
S. 11......................................... | am. No. 48, 1994; No. 107, 1997 | |
S. 13......................................... | am. No. 168, 1986; No. 48, 1994 | |
Note to s. 13............................. | ad. No. 107, 1997 | |
S. 15......................................... | am. No. 107, 1997 | |
S. 16......................................... |
| |
Heading to s. 17....................... | am. No. 35, 1998 | |
S. 17......................................... | am. No. 48, 1994; No. 107, 1997; No. 35, 1998 | |
S. 18......................................... | am. No. 107, 1997 | |
S. 19......................................... |
| |
Note to s. 19(1)......................... | ad. No. 107, 1997 | |
S. 20......................................... |
| |
Note to s. 20............................. | ad. No. 107, 1997 | |
S. 21......................................... |
| |
S. 22......................................... | am. No. 99, 1987; No. 54, 1998 | |
S. 23......................................... |
| |
S. 24......................................... |
| |
S. 25......................................... |
| |
Note to s. 25(4)......................... | ad. No. 107, 1997 | |
Ss. 25A, 25B............................. | ad. No. 16, 1989 | |
am. No. 48, 1994; No. 54, 1998 | ||
S. 25C...................................... | ad. No. 48, 1994 | |
S. 26......................................... |
| |
Note to s. 26 ............................ | ad. No. 107, 1997 | |
S. 27......................................... | am. No. 168, 1986; No. 48, 1994; No. 107, 1997 | |
Note to s. 27(12)....................... | ad. No. 107, 1997 | |
S. 28......................................... | am. No. 35, 1998 | |
S. 29......................................... | am. No. 48, 1994; No. 107, 1997 | |
Note to s. 29............................. | ad. No. 107, 1997 | |
S. 30......................................... | am. No. 48, 1994; No. 107, 1997 | |
Note to s. 30............................. | ad. No. 107, 1997 | |
S. 31......................................... | am. No. 48, 1994; No. 107, 1997 | |
| ad. No. 16, 1989 | |
S. 31A....................................... | ad. No. 16, 1989 | |
S. 31B....................................... | ad. No. 16, 1989 | |
am. No. 48, 1994; No. 54, 1998 | ||
Note to s. 31B(1)....................... | ad. No. 107, 1997 | |
S. 31C...................................... | ad. No. 16, 1989 | |
| ||
Note to s. 31C........................... | ad. No. 107, 1997 | |
S. 31D...................................... | ad. No. 16, 1989 | |
am. No. 48, 1994; Nos. 35 and 54, 1998 | ||
S. 31E....................................... | ad. No. 16, 1989 | |
am. No. 54, 1998 | ||
S. 31F....................................... | ad. No. 16, 1989 | |
am. Nos. 35 and 54, 1998 | ||
S. 31G ..................................... | ad. No. 16, 1989 | |
am. No. 54, 1998 | ||
S. 31H ..................................... | ad. No. 16, 1989 | |
am. No. 48, 1994; No. 54, 1998 | ||
Note to s. 31H(4)...................... | ||
ad. No. 107, 1997 | |
Ss. 31J, 31K............................. | ad. No. 16, 1989 |
am. No. 48, 1994; No. 54, 1998 | |
Ss. 32, 33................................. | am. No. 48, 1994; No. 107, 1997 |
Note to s. 33............................. | ad. No. 107, 1997 |
S. 33A....................................... | ad. No. 48, 1994 |
S. 34......................................... |
|
Note to s. 34(1)......................... | ad. No. 107, 1997 |
Heading to s. 34A..................... | am. No. 54, 1998 |
S. 34A....................................... | ad. No. 48, 1994 |
am. No. 43, 1996; No. 54, 1998; No. 137, 2000 | |
Note to s. 34A(9)....................... | ad. No. 107, 1997 |
S. 34B....................................... | ad. No. 48, 1994 |
am. No. 54, 1998 | |
S. 34C...................................... | ad. No. 48, 1994 |
am. No. 43, 1996; No. 54, 1998 | |
Ss. 34D–34H, 34J, 34K............ | ad. No. 48, 1994 |
S. 34L....................................... | ad. No. 48, 1994 |
am. No. 35, 1998 | |
Ss. 34M, 34N............................ | ad. No. 48, 1994 |
S. 34P....................................... | ad. No. 48, 1994 |
am. No. 137, 2000 | |
Note to s. 34P........................... | ad. No. 107, 1997 |
Ss. 34Q–34S............................ | ad. No. 48, 1994 |
Note to s. 34S........................... | ad. No. 107, 1997 |
S. 34T....................................... | ad. No. 48, 1994 |
Note to s. 34T........................... | ad. No. 107, 1997 |
S. 34U...................................... | ad. No. 48, 1994 |
rs. No. 107, 1997 | |
rep. No. 54, 1998 | |
S. 35......................................... | am. No. 48, 1994 |
Note to s. 35............................. | ad. No. 107, 1997 |
S. 37......................................... | am. No. 168, 1986; No. 48, 1994 |
Note to s. 37............................. | ad. No. 107, 1997 |
Heading to s. 37A..................... | am. No. 54, 1998 |
S. 37A....................................... | ad. No. 48, 1994 |
am. No. 54, 1998 | |
S. 38 ....................................... |
|
S. 39......................................... | am. No. 48, 1994; No. 107, 1997 |
Note to s. 39............................. | ad. No. 107, 1997 |
S. 40......................................... | am. No. 48, 1994 |
| No. 35, 1998 |
S. 41......................................... | am. No. 99, 1987; No. 54, 1998 |
S. 41A....................................... | ad. No. 48, 1994 |
am. No. 54, 1998 | |
S. 41B....................................... | ad. No. 48, 1994 |
Ss. 42, 43................................. | am. No. 99, 1987; No. 54, 1998 |
S. 44......................................... | am. No. 16, 1989 |
S. 45......................................... |
|
rep. No. 54, 1998 | |
S. 46A....................................... | ad. No. 48, 1994 |
S. 47......................................... | am. No. 99, 1987 |
rs. No. 107, 1997; No. 54, 1998 | |
am. No. 55, 2001 | |
S. 48......................................... | am. No. 48, 1994 |
A delegation that was in force under section 47 of the
Insurance (Agents and Brokers) Act 1984 immediately before the commencement of item 74 continues in force as if it had been given under the section substituted by that item.
73
Application—definition of contract of insurance in
section 9 of the Insurance (Agents and Brokers)
Act 1984 The definition of
contract of insurance inserted in section 9 of theInsurance (Agents and Brokers) Act 1984 by this Schedule, to the extent it extends the ordinary meaning of the expression “contract of insurance”,applies in relation to contracts entered into after the commencement of this item.
74
Application—subsections 26(3A) and (3B) of the Insurance (Agents and Brokers) Act 1984 (1) Subsections 26(3A) and (3B) of the
Insurance (Agents and Brokers) Act 1984 apply in relation to money received by a broker before or after the commencement of this item.(2) The reference in subsection 26(3A) of the
Insurance (Agents and Brokers) Act 1984 to subparagraph 26(1)(a)(i) of that Act includes a reference to paragraph 26(1)(a) of that Act as in force at any time before the commencement of this item.(3) The reference in subsection 26(3B) of the
Insurance (Agents and Brokers) Act 1984 to subparagraph 26(1)(a)(ii) of that Act includes a reference to paragraph 26(1)(b) of that Act as in force at any time before the commencement of this item.
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Application—section 31C of the Insurance (Agents and Brokers) Act 1984 The amendments of section 31C of the
Insurance (Agents and Brokers) Act 1984 made by this Schedule apply to applications made after the commencement of this item.
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Application—section 34L of the Insurance (Agents and Brokers) Act 1984 The amendments of section 34L of the
Insurance (Agents and Brokers) Act 1984 made by this Schedule apply to evidence seized after the commencement of this item.
Criminal Code Amendment (Theft, Fraud, Bribery and Related Offences) Act 2000 (No. 137, 2000)
(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 .
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.
Treasury Legislation Amendment (Application of Criminal Code) Act (No. 2) 2001 (No. 146, 2001)
(1) Each amendment made by this Act applies to acts and omissions that take place after the amendment commences.
(2) For the purposes of this section, if an act or omission is alleged to have taken place between 2 dates, one before and one on or after the day on which a particular amendment commences, the act or omission is alleged to have taken place before the amendment commences.
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