EXPLANATORY STATEMENT
STATUTORY RULES 1990 No. 445
LIFE INSURANCE REGULATIONS
ISSUED BY AUTHORITY OF THE TREASURER
Section 141 of the Life Insurance Act 1945 (the Act) provides that any person may, upon payment of such fee as is prescribed, inspect any document lodged with the Insurance and Superannuation Commissioner under subsection 52(2) of the Act, and make a copy of, or an extract from the document.
The new regulation 29 prescribes a fee of $10 for inspecting a document, and a fee calculated at the rate of $1 per page for copying. The regulation also makes provision for the fee in respect of providing copies of documents to apply where such copies are made available in electronic form.
The amending Regulations also repeal the previous regulation 29 which substantially duplicated the effect of section 25C of the Acts Interpretation Act 1901. In addition the amending Regulations remove the heading ‘THE SCHEDULES’ from the Schedules to the Life Insurance Regulations to conform with current drafting style.
Insurance and Superannuation Commission
CANBERRA ACT