Document ID: chunk:federal_register_of_legislation:C2004A04724:body:0:p1
Version: federal_register_of_legislation:C2004A04724
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Character Range: 0–3392

Insurance Laws Amendment Act 1994

No. 48 of 1994

TABLE OF PROVISIONS

PART 1—PRELIMINARY

Section

  1. Short title
  2. Commencement

PART 2—AMENDMENTS OF THE INSURANCE ACT 1973

  3. Principal Act
  4. Valuation of assets
  5. Inquiry by Commissioner and directions relating to certain assets
  6. Principal banker
  7. Application of amendments—section 33 of the Principal Act
  8. Application of amendment—section 51 of the Principal Act
  9. Transitional—phasing-in of asset valuation requirements
TABLE OF PROVISIONS—continued
Section

PART 3—AMENDMENTS OF THE INSURANCE (AGENTS AND BROKERS) ACT 1984

 10. Principal Act
 11. Definitions
 12. Insertion of new sections:
       9B. Meaning of acceptable contracts of professional indemnity insurance
       9C. Approved form
 13. Insurance intermediaries other than brokers to operate under written agreements
 14. Liability for conduct of agents and employees
 15. Brokers not to carry on business unless registered
 16. Applications for registration
 17. Registration of brokers
 18. Suspension or cancellation of registration
 19. Annual return
 20. Insertion of new section:
       25C. Accounting records to be kept by registered brokers
 21. Insurance broking accounts
 22. Debts of brokers in relation to premiums etc.
 23. Foreign insurance agents not to carry on business unless registered
 24. Registration of foreign insurance agents
 25. Suspension or cancellation of registration
 26. Annual return
 27. Insertion of new section:
       33A. Insurance intermediaries to notify insurers of multiple agency arrangements
 28. Insertion of new sections:
       34A. Commissioner may direct an insurance intermediary to provide information
       34B. Production of documents
       34C. Identity cards
       34D. Offence powers—entry and search of premises with occupier's consent
       34E. Offence-related warrants
       34F. Announcement before entry under warrant
       34G. Details of warrant to be given to occupier etc.
       34H. Continuance of warrants in certain circumstances
       34J. Use of expert assistance in executing warrants
       34K. Warrants may be granted by telephone etc.
       34L. Discovery of evidence
       34M. Compensation for damage to electronic equipment
       34N. Copies of seized things to be provided
       34P. Power to require persons to provide information etc.
       34Q. Consent
       34R. Persons to assist authorised officers
        34S. Offence for making false statements in applications for warrants
        34T. Offences relating to telephone warrants
        34U. Secrecy
 29. Certain money to be trust money
 30. Insertion of new section:
        37A. Commissioner may grant exemptions from certain requirements under section 37
 31. Broker to notify insured of association with insurer
 32. Insertion of new sections:
        41A. Decision-making principles
            41B. Insurance intermediaries taken to be associated because of prior conduct of personnel

TABLE OF PROVISIONS—continued

Section

 33. Insertion of new section:
            46A. Time for bringing proceedings
 34. Further amendments of the Principal Act
 35. Application of amendments—section 21 of the Principal Act
 36. Transitional—applications for registration and renewal of registration
 37. Transitional
 38. Transitional—trust money
 39. Application

PART 4—AMENDMENT OF THE