Insurance Regulation 2009 (NSW)

Her Excellency the Governor, with the advice of the Executive Council, has made the following Regulation under the Insurance Act 1902.

Attorney General

1Name of Regulation

This Regulation is the Insurance Regulation 2009.

2Commencement

This Regulation commences on 1 September 2009 and is required to be published on the NSW legislation website.

Note—

This Regulation replaces the Insurance Regulation 2004 which is repealed on 1 September 2009 by section 10 (2) of the Subordinate Legislation Act 1989.

3Definition(1)

In this Regulation:

the Act means the Insurance Act 1902.

(2)

Notes included in this Regulation do not form part of this Regulation.

4Exemption of certain contracts of insurance

For the purposes of section 21 (1) (b) of the Act:

• (a)

  contracts of marine insurance and contracts of life insurance are exempt from the provisions of Part 6 of the Act (other than the provisions from which those contracts are already exempt by virtue of section 21 (2) of the Act), and

• (b)

  contracts of insurance that are subject to the Insurance Contracts Act 1984 of the Commonwealth and contracts of reinsurance are exempt from the operation of sections 18, 18A, 18B and 19 of the Act.

5Savings

Any act, matter or thing that, immediately before the repeal of the Insurance Regulation 2004, had effect under that Regulation continues to have effect under this Regulation.