Northumberland Insurance Company Limited (Amendment) Act 1977 (NSW)

NORTHUMBERLAND INSURANCE COMPANY

LIMITED (AMENDMENT) ACT, 1977

Males

ANNO VICESIMO SEXTO

ELIZABETHS II BEGINS

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Act No. 63, 1977.

An Act to amend the Northumberland Insurance Company Limited Act, 1975, with respect to the satisfaction of claims, judgments and awards arising from or pertaining to policies of insurance issued by the Northumberland Insurance Company Limited; and to validate certain matters. [Assented to, 7th September, 1977.1

BE

Act No. 63, 1977.

Northumberland Insurance Company Limited {Amendment).

"DE it enacted by the Queen’s Most Excellent Majesty, by -L ' and with the advice and consent of the Legislative Council and Legislative Assembly of New South Wales in Parliament assembled, and by the authority of the same, as

follows:—

Short title. 1. This Act may be cited as the “Northumberland

Insurance Company Limited (Amendment) Act, 1977”.

Commence- 2. (1) This Act, except section 3 (d) and (e), shall be

ment. deemed to have commenced on 27th April, 1976.

(2) Section 3 (d) and (e) shall commence on the

date of assent to this Act.

Amendment 3. The Northumberland Insurance Company Limited

8 6 1 9 7 5 , is amended—

Sec. 2.	(a) by inserting in section 2 after the definition of “Contribution Fund” means the Insurers’ Contri­ bution Fund established under section 30h (1) of the Workers’ Compensation Act, 1926;
(Defini­

tions.) “Company” the following definition :—

Sec. 3.	(b) by inserting in section 3 (1) after the word “insurers” the words “, all income accruing from the investment or re-investment of moneys under subsection (3), or otherwise accruing to the fund, and any amounts recovered by the Government In­ surance Office pursuant to the exercise of any right referred to in section 5c (1) (b )” ;
(Fund.)
Secs.	(c) by omitting section 5 and by inserting instead the

5-5e. following sections :—

Liquidator	5. The liquidator of the Company shall, on the
to notify

Government	receipt by him of any claim pertaining to any policy
Insurance	of insurance issued by the Company, forward that
Office
of claims.	claim to the Government Insurance Office.

5a.

Act No. 63, 1977.

Northumberland Insurance Company Limited {Amendment).

5a. The liquidator of the Company shall, when- Delivery of

Insurance Office, deliver to the Government Insur- Government

ance Office all documents relating to policies of office!"*̂ ̂

insurance issued by the Company and any claims,

judgments or awards made in respect of any such

policies in his possession and furnish to the

ever requested to do so by the Government possession relating to any such policies or any such claims, judgments or awards.

5b . If any complaint is made to the Supreme Control of

Court by the Government Insurance Office with court"over respect to the exercise or performance by the liquidator, liquidator of any of his powers, authorities, duties

or functions under this Act, the Supreme Court shall inquire into the matter and take such action as it thinks fit.

5c. (1) The Government Insurance Office, as Claims,

manager of the fund—	TndTwTrds
arising out

(a)	may in all respects deal with and finalise of policies
any claim; and of insurance.
(b)	may exercise any right of the Company arising from or pertaining to any claim, judgment or award,

arising from or pertaining to any policy of insurance issued by the Company as if the Government Insurance Office had been the insurer under the policy.

(2) A reference in subsection (1) (b) to any right of the Company includes a reference to any right the Company would have had but for its dissolution pursuant to section 64 of the Workers’ Compensation Act, 1926, or for the purpose of recovering contribution from an insurer.

5d.

Act No. 63, 1977.

Northumberland Insurance Company Limited {Amendment).

Application 5d. Out of the fund, the Government Insurance

of fund. OflSce

(a) shall, as manager of the fund, satisfy any liability of the Company in respect of any claim, judgment or award arising from or pertaining to any policy of insurance issued by the Company; and

(b) is entitled—

(i)   to be paid, as manager of the fund, the costs of administration of the fund; and

(ii)   to be indemnified against aU liabilities met by it and aU costs and expenses that it may incur, as manager of the fund, in or in connection with the exercise or performance or the purported exercise or performance of its powers, authorities, duties and functions under this Act.

Exclusion of	5e . The liquidator of the Company shall not be personally liable for or in respect of the exercise or performance or the purported exercise or perform­ ance by the Govenunent Insurance Office of its powers, authorities, duties and functions under this Act.
liquidator.

liability of

Sec. 6a. (d) by inserting after section 6 the following section :—

Dissolution	6 a . The Company shall not be dissolved before such day as may be appointed by the Governor in respect thereof and as may be notified by proclamation published in the Gazette.
of Company.

(e)

Act No. 63, 1977.

Northumberland Insurance Company Limited {Amendment).

(e) by inserting after section 7 the following sections :— Secs. 7a, 7b .

7a. ( 1) When the Company has been dissolved, Entitlements

a person who would have had, but for the dissolu­

tion of the Company, an entitlement to payment of the

of any amount arising from or pertaining to any Company,

policy of insurance issued by the Company, other

than an entitlement to payment of an amount under

section 7, shall be entitled to payment of that

amount out of the Contribution Fund.

(2) A person referred to in subsection (1) may make a claim against the Government Insur­ ance Office, as manager of the Contribution Fund, in respect of an entitlement to payment of an amount under that subsection.

(3) Section 5c (1) and section 5d apply in respect of a claim referred to in subsection (2) in the same way as they apply in respect of a claim referred to in those sections and in so applying those sections—

(a)	a reference to the fund shall be construed as a reference to the Contribution Fund; and
(b)	a reference to any right or liability of the Company shall be construed as a reference to any right or liability the Company would have had but for its dissolution.

7b . If, after payment out of the fund of all money Final

by this Act, any money remains in the fund, the in fund. ̂ authorised or required to be paid out of the fund remaining in the fund into the Contribution Fund.

Act No. 63, 1977.

Northumberland Insurance Company Limited {Amendment).

Sec. 8.	(f) by omitting section 8 (1) (a) and by inserting
(Recovery

of moneys	instead the following paragraph :—
paid out
of the

fund.) (a) all amounts paid out of the fund by the Government Insurance Office, or to which the Government Insurance Office is entitled, under the provisions of this A ct; and