Insurance Regulations (Amendment) (Cth)

Statutory Rules 1996

No. 302 1

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Insurance Regulations 2(Amendment)

I, The Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Insurance Act 1973.

Dated 11 December 1996.

 WILLIAM DEANE

 Governor-General

By His Excellency’s Command,

C. R. KEMP

Assistant Treasurer

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1.   Amendment

1.1   The Insurance Regulations are amended as set out in these Regulations.

[NOTE: These Regulations commence on gazettal: see Acts Interpretation Act 1901, s. 48.]

2.    Schedule (Forms )

2.1   Form 4, Part B:

Add at the end:

2.2   Form 9 :

Omit the form, substitute:

DIRECTIONS FOR COMPLETING FORM 9

Insurers incorporated outside Australia

 1. An insurer that is not incorporated in Australia must not make entries in this form in respect of insurance business outside Australia.

Amounts to be rounded to nearest $1,000

 2. Amounts (other than $1,000 or a multiple of $1,000) must be rounded to the nearest amount of that kind: see subregulation 2 (2a).

 

Examples:

• (a)

  $10,500 must be rounded down to $10,000;

• (b)

  $25,501 must be rounded up to $26,000.”.

2.3   Form 16, Part D:

Add at the end:

NOTES

1. Notified in the Commonwealth of Australia Gazette on 18 December 1996.

2. Statutory Rules 1974 No. 141 as amended by 1976 Nos. 90, 126, 139 and 288; 1977 No. 213; 1980 No. 107; 1981 No. 209; 1985 No. 189; 1987 No. 340; 1990 No. 446; 1992 No. 177; 1994 No. 277; 1995 No. 140; 1996 No. 45.