Document ID: chunk:federal_register_of_legislation:C2013A00075:clause:4_2
Version: federal_register_of_legislation:C2013A00075
Segment Type: clause
Provision Reference: sch 4 cl 2
Character Range: 18954–20104

2  Application
(1) The amendment made by this Part applies to:
 (a) a contract of insurance that is originally entered into after the commencement of this item; and
 (b) a contract of general insurance that was originally entered into before the commencement of this item and is renewed after that commencement.
(2) If:
 (a) a contract of life insurance that was originally entered into before the commencement of this item is varied after that commencement to:
 (i) increase a sum insured under the contract in respect of one or more of the life insureds; or
 (ii) provide one or more additional kinds of insurance cover; and
 (b) the variation was not an automatic variation but was required to be expressly agreed between the insurer and the insured before the contract was varied;
then:
 (c) the contract is treated, to the extent of the variation, as if it had been originally entered into after the commencement of this item; and
 (d) the amendment made by this Part applies to the contract to the extent of the variation.

Part 2—Eligible contracts of insurance

Division 1—Amendments commencing on Royal Assent

Insurance Contracts Act 1984