Document ID: chunk:federal_register_of_legislation:C2004A02846:body:0:p2
Version: federal_register_of_legislation:C2004A02846
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purposes

[Assented to 22 December 1983]

BE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows:

PART I—PRELIMINARY

Short title, &c.
1. (1) This Act may be cited as the Insurance Amendment Act 1983.
(2) The Insurance Act 19731 is in this Act referred to as the Principal Act.

Commencement
2. (1) Subject to this section, this Act shall come into operation on the twenty-eighth day after the day on which it receives the Royal Assent.
(2) Paragraph 3 (c) and section 24 shall come into operation on such date as is, or on such respective dates as are, fixed by Proclamation.

(3) The amendment of sub-section 113 (4) of the Principal Act made by section 42 shall come into operation on the date on which that sub-section comes into operation.

PART II—AMENDMENTS OF THE PRINCIPAL ACT

Interpretation
3. Section 3 of the Principal Act is amended—
     (a) by inserting after the definition of "accident insurance business" in sub-section (1) the following definitions:
        "'accounting records', in relation to a body corporate, includes invoices, receipts, orders for the payment of money, bills of exchange, cheques, promissory notes, vouchers and other documents of prime entry and also includes such working papers and other documents as are necessary to explain the methods and calculations by which accounts of the body corporate are made up, and such other documents (if any) as are prescribed;
        'accounts', except in sub-sections 44 (1), (2) and (3) and the Schedule, means ordinary accounts and statutory accounts";
     (b) by omitting from sub-section (1) the definition of "books" and substituting the following definitions:
        "'books' includes any register or other record of information or any accounts or accounting records, however compiled, recorded or stored, and also includes any document; 'charge' means a charge created in any way and includes a mortgage or an agreement to give or execute a charge or mortgage, whether upon demand or otherwise;";
     (c) by omitting from sub-section (1) the definition of "debenture" and substituting the following definition:
        "'debenture' includes debenture stock, bonds, notes and any other document evidencing or acknowledging indebtedness of a body corporate in respect of money that is or may be deposited with or lent to the body corporate, whether constituting a charge on property of the body corporate or not, but does not include—
          (a) a document that merely acknowledges the receipt of money by a body corporate in a case where, in respect of the money, the body corporate issues, in compliance with section 97 of the Companies Act 1981, a document prescribed by sub-section (2) of that section and complies with the other requirements of that section;
          (b) a