Document ID: chunk:federal_register_of_legislation:C2024C00063:section:11:p1
Version: federal_register_of_legislation:C2024C00063
Segment Type: section
Provision Reference: s 11 (pt 1/5)
Character Range: 19315–21953

11  Interpretation
 (1) In this Act, unless the contrary intention appears:
annual turnover, of a body corporate during a 12‑month period, means the sum of the values of all the supplies that the body corporate, and any body corporate related to the body corporate, have made, or are likely to make, during the 12‑month period, other than:
 (a) supplies made from any of those bodies corporate to any other of those bodies corporate; or
 (b) supplies that are input taxed; or
 (c) supplies that are not for consideration (and are not taxable supplies under section 72‑5 of the A New Tax System (Goods and Services Tax) Act 1999); or
 (d) supplies that are not made in connection with an enterprise that the body corporate carries on; or
 (e) supplies that are not connected with Australia.
Expressions used in this definition that are also used in the A New Tax System (Goods and Services Tax) Act 1999 have the same meaning as in that Act.
ASIC means the Australian Securities and Investments Commission.
avoid, in relation to a contract of insurance, means avoid from its inception.
benefit derived and detriment avoided because of an offence has the meaning given by section 75F.
binder means an authority given by an insurer to an insurance intermediary to enter into, as agent for the insurer, contracts of insurance on behalf of the insurer as insurer.
broker's placing slip means a document that:
 (a) is evidence of a contract of insurance; and
 (b) bears a notation by an insurer setting out the extent of the insurance cover that the insurer agrees to provide under the contract.
business day means a day that is not a Saturday, a Sunday or a public holiday or bank holiday.
civil penalty provision: a subsection of this Act (or a section of this Act that is not divided into subsections) is a civil penalty provision if:
 (a) the words "civil penalty" and one or more amounts in penalty units are set out at the foot of the subsection (or section); or
 (b) another provision of this Act specifies that the subsection (or section) is a civil penalty provision.
consumer credit insurance means insurance provided by a class of contracts of insurance:
 (a) that is declared by the regulations to be a class of contracts to which Division 1 of Part V of this Act applies; and
 (b) that is identified by those regulations as consumer credit insurance.
consumer insurance contract has the meaning given by section 11AB.
continuous disability insurance policy means a contract that is a continuous disability policy within the meaning of the Life Insurance Act 1995.
contract of life insurance means a contract that constitutes a life