Document ID: chunk:federal_register_of_legislation:C2025C00157:section:99
Version: federal_register_of_legislation:C2025C00157
Segment Type: section
Provision Reference: s 99
Character Range: 385539–386241

99  Operation of State and Territory laws on section 10
 (1) It is the intention of the Parliament that section 10 (which provides that a body corporate or Lloyd's underwriter commits an offence in certain circumstances) is not to apply to the exclusion of a law of a State or Territory.
 (2) However, section 10 applies to the exclusion of a law of a State or Territory to the extent that the effect of the law is to authorise:
 (a) a body corporate or a Lloyd's underwriter to carry on insurance business generally; or
 (b) a body corporate that is not a general insurer to carry on specified insurance business or to carry on insurance business included in a specified class of insurance business.