Document ID: chunk:federal_register_of_legislation:C2004A03764:body:0:p15
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to a rate approved before the commencement of this section.
(3) The amendments made by paragraphs (1) (b), (c) and (d) (and the amendment made by paragraph (1) (e), insofar as that amendment relates to an approval under subsection 78 (3) of the Principal Act) do not apply in relation to a requirement made before the commencement of this section.

Commissions or rebates in respect of policies
39. Section 79 of the Principal Act is amended by omitting "the approval of an actuary" and substituting "the approval of the appointed actuary".

Repeal of sections 80, 81 and 82
40. Sections 80, 81 and 82 of the Principal Act are repealed.

Minors
41. Section 85 of the Principal Act is amended:
     (a) by omitting from subsections (1) and (3) "his parent" and substituting "a parent of the minor";
     (b) by omitting from subsection (2) "of full age" and substituting "not a minor".

Unclaimed moneys
42. (1) Section 106 of the Principal Act is amended:
     (a) by omitting from subsection (8) "$20" and substituting "the statutory threshold";

     (b) by omitting "Secretary to the Department of the Treasury" from the definition of "authorized officer" in subsection (10) and substituting "Commissioner";
     (c) by inserting in subsection (10) the following definition:
         " 'statutory threshold' means $200 or such higher amount as is prescribed;".
(2) The amendment made by paragraph (1) (a) applies in relation to statements of unclaimed moneys as at 31 December 1988 and in relation to statements of unclaimed moneys as at a later date.

Interpretation
43. (1) Section 114 of the Principal Act is amended by omitting from subsection (1) "21" and substituting "18".
(2) The amendment made by subsection (1) does not apply to policies effected before the commencement of this section.

Lost policies
44. Section 119 of the Principal Act is amended:
     (a) by omitting from subsection (4) "one month's" and substituting "10 days'";
     (b) by inserting after subsection (8) the following subsections:
    "(8a) Where:
         (a) the owner of a policy or a person claiming the benefit of section 103 or 103a in respect of a policy:
            (i) claims that the policy is lost or has been destroyed; and
            (ii) makes a claim under the policy, or makes any other request or claim in respect of the policy, that would result in the termination of the policy; and
         (b) the company liable under the policy:
            (i) satisfies the claim or complies with the request referred to in subparagraph (a) (ii);
            (ii) records details of its action in the appropriate register of policies; and
            (iii) before satisfying the claim or complying with the request referred to in subparagraph (a) (ii), has given at least 10 days' notice of its intention so