Document ID: chunk:federal_register_of_legislation:F2015L00299:reg:5:p1
Version: federal_register_of_legislation:F2015L00299
Segment Type: reg
Provision Reference: reg 5 (pt 1/7)
Character Range: 1236–3919

5  Schedules

   Each instrument that is specified in a Schedule to this instrument is varied or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1 Variations

Defence Service Homes Act 1918 - Variation of Statement of Conditions under subsection 38A(3)

1 Page 4 - About this insurance

omit:

    This insurance is available as a benefit for people who qualify under the
    Defence Service Homes Act 1918, the Veterans' Entitlements Act 1986 the Defence Home Ownership Assistance Scheme Act 2008 or the Defence Force (Home Loans Assistance) Act 1990.

    substitute:

    This insurance is available as a benefit for people who qualify under the
    Defence Service Homes Act 1918, the Veterans' Entitlements Act 1986,
    the Defence Force (Home Loans Assistance) Act 1990 or the Defence Home Ownership Assistance Scheme Act 2008.

2 Page 5 – Your premium

 omit:

If you do not pay your premium by the starting date for the policy,
then:
• if a financial institution is named under "Other interested parties"
on your certificate, we may ask it to pay your premium, or
• if you have not mortgaged the home or used it to get a loan, we
may cancel your insurance.

3 Page 6 – Paying your annual premium

omit:

If you do not pay your premium by the starting date for the policy,
then:
               * if a financial institution is named under "Other interested parties" on your certificate, we may ask it to pay your premium, or
      *                   if you have not mortgaged the home or used it to get a loan, we may cancel your insurance.

substitute:

    If you do not pay your premium by the starting date for the policy then your policy will not be in operation.

4 Page 6 – What happens if your instalment is unpaid?

omit:

Your policy will be cancelled after three consecutive unpaid instalments. We will send you an advice that the policy is cancelled and the effective date.

substitute:

    If any instalment of premium has remained unpaid for one month, we may cancel this policy.  We will send you a notice giving you details of the action we intend to take and when any cancellation will become effective.

5 Page 7 – The Cost of this Insurance policy ("the listed factors")

substitute:

           * the location of your home. If the location presents a higher risk, the premium will be higher.

           * the sum insured. The higher the sum insured, the higher the premium.

           * your past claims experience. Your premium will be lower if you have a good claims history under similar policies.

           * the construction