EXPLANATORY STATEMENT
STATUTORY RULES 1982 NO 67
INSURANCE TRIBUNAL REGULATIONS (REPEAL)
ISSUED BY THE AUTHORITY OF THE TREASURER
The Insurance Act 1973 (the Act) establishes an administrative system for the supervision of the conduct of general (non-life) insurance business in Australia by authorised insurance companies.
Section 132 of the Act empowers the Governor-General to make regulations, not inconsistent with the Act, prescribing all matters that are required or permitted by the Act to be prescribed or are necessary or convenient to be prescribed for carrying out or giving effect to the Act.
The original provisions of the Act empowered the Insurance Tribunal to hear appeals in respect of a range of administrative decisions made under the Act, Following the establishment of the Administrative Appeals Tribunal (AAT) in 1975, the Act was amended in 1977 to transfer the jurisdiction of the Insurance Tribunal to the AAT and to repeal sub-section 132(d). As a result, the Insurance Tribunal Regulations, which relate mainly to conditions of members of the Tribunal, no longer have any effective purpose.
The purpose of the Statutory Rule is to repeal the Insurance Tribunal Regulations.
The Treasury
CANBERRA ACT