Document ID: chunk:federal_register_of_legislation:C2013C00453:clause:1_12:p28
Version: federal_register_of_legislation:C2013C00453
Segment Type: clause
Provision Reference: sch 1 cl 12 (pt 28/39)
Character Range: 208955–211594

insurer under the policy; and
 (b) the policy is an annuity that is a *qualifying security.
 (6) A right or obligation under a *general insurance policy is the subject of an exception unless:
 (a) you are not a *general insurance company; and
 (b) the policy is a *derivative financial arrangement.

Certain workers' compensation arrangements
 (7) A right or obligation in relation to a liability for workers' compensation claims to which Division 323 of Schedule J to the Income Tax Assessment Act 1936 applies is the subject of an exception.

Certain guarantees and indemnities
 (8) A right or obligation under a guarantee or indemnity is the subject of an exception unless:
 (a) the *financial arrangement is the subject of a *fair value election or an *election to rely on financial reports; or
 (b) the financial arrangement is a *derivative financial arrangement; or
 (c) the guarantee or indemnity is given in relation to a financial arrangement.

Personal arrangements and personal injury
 (9) The following rights and obligations are the subject of an exception:
 (a) a right to receive, or an obligation to provide, consideration for providing personal services;
 (b) a right, or obligation, arising from the administration of a deceased person's estate;
 (c) a right to receive, or an obligation to provide, a gift under a deed;
 (d) a right to receive, or an obligation to provide, a *financial benefit by way of maintenance:
 (i) to an individual who is or has been the *spouse of the person liable to provide the benefit; or
 (ii) to or for the benefit of an individual who is or has been a child of the person liable to provide the benefit; or
 (iii) to or for the benefit of an individual who is or has been a child of an individual who is or has been a spouse of the person liable to provide the benefit;
 (e) a right to receive, or an obligation to provide, a financial benefit in relation to personal injury to an individual;
 (f) a right to receive, or an obligation to provide, a financial benefit in relation to an injury to an individual's reputation.
 (10) Without limiting paragraph (9)(e), that paragraph applies:
 (a) even if the person to whom the *financial benefit is to be provided is not the individual who was injured; and
 (b) even if the personal injury to the individual takes the form of:
 (i) a wrong to the individual; or
 (ii) illness of the individual.
Note: The person referred to in paragraph (a) may, for example, be a relative of the individual who was injured.

Superannuation and pension benefits
 (11) A right to receive, or an obligation to provide, *financial benefits is the subject of an