Document ID: chunk:federal_register_of_legislation:C2010C00224:clause:3_3a
Version: federal_register_of_legislation:C2010C00224
Segment Type: clause
Provision Reference: sch 3 cl 3A
Character Range: 113868–114707

3A  Certain insurance contracts not taken to be insurance business

 (1) For the purposes of this Act, insurance business does not include undertaking liability under a contract of insurance, or a kind of contract of insurance:
 (a) specified in the regulations for the purposes of this subsection; or
 (b) in circumstances specified in the regulations for the purposes of this subsection.

 (2) Without limiting subsection (1), the regulations may specify a contract of insurance, a kind of contract of insurance, or circumstances, by reference to:
 (a) particular general insurance products (within the meaning of Chapter 7 of the Corporations Act 2001), or particular kinds of such products; or
 (b) particular persons, or particular kinds of persons, who are insured under a contract of insurance, or a kind of contract of insurance.