Medical Indemnity (Prudential Supervision and Product Standards) Amendment Regulations 2004 (No. 2) (Cth)

Medical Indemnity (Prudential Supervision and Product Standards) Amendment Regulations 2004 (No. 2)1

Statutory Rules 2004 No. 872

I, JOHN SANDERSON, Administrator of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Medical Indemnity (Prudential Supervision and Product Standards) Act 2003.

Dated 13 May 2004

JOHN SANDERSON

Administrator

By His Excellency’s Command

HELEN COONAN

Minister for Revenue and Assistant Treasurer

1Name of Regulations

These Regulations are the Medical Indemnity (Prudential Supervision and Product Standards) Amendment Regulations 2004 (No. 2).

2Commencement

These Regulations are taken to have commenced on 1 July 2003.

3Amendment of Medical Indemnity (Prudential Supervision and Product Standards) Regulations 2003

Schedule 1 amends the Medical Indemnity (Prudential Supervision and Product Standards) Regulations 2003.

Schedule 1Amendment

(regulation 3)

[1]Before paragraph 4 (1) (a)

insert

1. (aa)

   an arrangement under which:

   1. (i)

      medical indemnity cover for a health care professional is provided by a Lloyd’s underwriter (within the meaning of the Insurance Act 1973); and

   2. (ii)

      the underwriter would, if the Act applied to the arrangement, commit an offence under the Act in relation to the cover only because the underwriter was not a general insurer;

Notes

1. These Regulations amend Statutory Rules 2003 No. 109, as amended by 2003 No. 129; 2004 No. 81.

2. Notified in the Commonwealth of Australia Gazette