Document ID: chunk:federal_register_of_legislation:F2024C01015:clause:1_3aa
Version: federal_register_of_legislation:F2024C01015
Segment Type: clause
Provision Reference: sch 1 cl 3AA
Character Range: 3747–4652

3AA  Approved insurer
 (1) An insurer may apply, in writing, to the Minister to be an approved insurer for this Act.
 (2) Before the end of 21 days after receiving an application, the Minister must:
 (a) approve or refuse to approve the insurer; and
 (b) give the insurer written notice of the decision and, if the decision is a refusal, the reasons for that decision.
 (3) In deciding to approve or refuse to approve an insurer, the Minister must consider:
 (a) the Territory's requirements for third party motor vehicle insurance; and
 (b) the ability of the insurer to provide insurance of that kind in the Territory.
 (4) An approval is subject to any conditions that are prescribed by regulation.
 (5) Subject to the Administrative Review Tribunal Act 2024, application may be made to the Administrative Review Tribunal for review of a decision of the Minister to refuse the approval of an insurer.