ASIC Deferred Sales Model Exemption (CGUA—Business-Related Livestock Insurance) Instrument 2026/144
I, Nathan Bourne, delegate of the Australian Securities and Investments Commission, make the following notifiable instrument.
Date 25 February 2026
Nathan Bourne
Contents
Part 1—Preliminary 3
1 Name of notifiable instrument....................................3
2 Commencement...............................................3
3 Authority....................................................3
4 Definitions...................................................3
Part 2—Exemption 4
5 Business-related livestock insurance sold by CGU Australia Pty Ltd......4
6 Meaning of business-related livestock add-on insurance product.........4
Part 3—Repeal 5
7 Repeal.......................................................5
Part 1—Preliminary
1 Name of notifiable instrument
This is the ASIC Deferred Sales Model Exemption (CGUA—Business-Related Livestock Insurance) Instrument 2026/144.
2 Commencement
This instrument commences on the day after it is registered on the Federal Register of Legislation.
Note: The register may be accessed at www.legislation.gov.au.
3 Authority
This instrument is made under paragraph 12DY(1)(b) of the Australian Securities and Investments Commission Act 2001.
4 Definitions
In this instrument:
Act means the Australian Securities and Investments Commission Act 2001.
business-related livestock add-on insurance product has the meaning given by section 6.
livestock animal means an animal kept or usually kept for the purposes of primary production and includes horses.
Part 2—Exemption
5 Business-related livestock insurance sold by CGU Australia Pty Ltd
Sections 12DQ, 12DR and 12DS of the Act do not apply to business-related livestock add-on insurance product sold by CGU Australia Pty Ltd ABN 62 004 478 960.
6 Meaning of business-related livestock add-on insurance product
An add-on insurance product is a business-related livestock add-on insurance product if:
(a) the add-on insurance product is offered or sold to a consumer in connection with the consumer acquiring, or entering into a commitment to acquire, another product or service in the course of the consumer carrying on a business; and
(b) the price of the add on insurance product does not exceed $1,000; and
(c) the main purpose of the add-on insurance product is to provide insurance cover (whether or not the cover is restricted) in respect of one or more of the following:
(i) the death of a livestock animal;
(ii) the loss of use of a bull, ram or stallion as a result of it becoming impotent, infertile or incapable of natural service.
Part 3—Repeal
7 Repeal
This instrument is repealed at the start of the earlier of:
(a) 5 October 2028; or
(b) the day (if any) that paragraph 12B(1)(i) of the Australian Securities and Investments Commission Regulations 2001 ceases to apply to business-related add-on insurance products.