Document ID: chunk:federal_register_of_legislation:F2024L00194:reg:15
Version: federal_register_of_legislation:F2024L00194
Segment Type: reg
Provision Reference: reg 15
Character Range: 16269–17288

15  Prescribed insurance business
  For the purposes of paragraph 5(2)(c) of the Act, the following insurance business is prescribed:
 (a) workers compensation insurance business carried on by a company that is:
 (i) registered under the Corporations Act 2001; and
 (ii) licensed under Division 3 of Part 7 of the Workers Compensation Act 1987 (NSW); and
 (iii) required under that Act to establish and maintain statutory funds;
 (b) the carrying on by the Municipal Association of Victoria of the following kinds of insurance business:
 (i) fidelity guarantee insurance;
 (ii) personal accident insurance;
 (c) insurance business carried on by an unauthorised foreign insurer relating to a contract of insurance that meets the following criteria:
 (i) the contract was entered into before 1 July 2008;
 (ii) the contract has not been renewed or extended beyond its original term on or after 1 July 2008;
 (iii) the terms of the contract have not been varied on or after 1 July 2008.

Part 4—Financial claims scheme