Commonwealth Numbered Regulations - Explanatory Statements

[Index] [Search] [Download] [Related Items] [Help]

INSURANCE (AGENTS AND BROKERS) REGULATIONS (AMENDMENT) 1996 NO. 303

EXPLANATORY STATEMENT

STATUTORY RULES 1996 No. 303

Issued by the Authority of the Assistant Treasurer

Insurance (Agents and Brokers) Regulations (Amendment)

Section 48 of the Insurance (Agents and Brokers) Act 1984 (the Act) provides that the Governor-General may make regulations for the purposes of the Act.

The Life Insurance Act 1995 commenced on 1 July 1995, at which time the Life Insurance Act 1945 was repealed. This Regulation is a consequential amendment to, existing Insurance (Agents and Brokers) Regulation 10 subparagraph (2)(h)(ii), where it continues to refer to the Life Insurance Act 1945, instead of the Life Insurance Act 1995.

The commencement date of the Regulation amendment is the date of gazettal.