Queensland Consolidated Acts

MOTOR ACCIDENT INSURANCE ACT 1994 - SECT 67A

67A When State may underwrite CTP insurance policies

(1) This section applies if—

(a) an insurer’s licence is withdrawn or suspended; and

(b) the commission considers CTP insurance policies of the insurer can not be appropriately allocated to another insurer under section 67 (5) or (6) , including for example, if the commission considers—

(i) there is no insurer with appropriate capacity to underwrite the policies; or

(ii) the circumstances are urgent.

(2) The commission may request the Minister to authorise the State to underwrite the CTP insurance policies.

(3) The commission must provide the Minister with the information and the recommendations on matters decided by the Minister.

(4) The Minister may authorise the State to underwrite the policies starting from a day stated by the Minister, including from a day before the Minister authorises the underwriting.

(5) The State becomes the insurer underwriting the policies from the day stated by the Minister.

(6) If the State becomes an insurer under subsection (5) , a regulation may make provision for the State to, under section 21 —

(a) become an insurer of a motor vehicle, even if, in a particular case, the State is not the insurer of the motor vehicle under subsection (4) ; or

(b) stop being the insurer of a motor vehicle.

(7) For subsections (5) and (6) , this Act, other than the following provisions, applies to the State—

(a) sections 62 to 64 ;

(b) section 66 ;

(c) section 67 (1) and (2) ;

(d) sections 68 and 69 ;

(e) sections 71 to 73 ;

(f) part 5B .

(8) For subsection (7) , a reference, in an applied provision, to an insurer, licensed insurer or CTP insurer includes a reference to the State.

(9) A regulation may modify an applied provision for the purpose of its application to the State, including, for example—

(a) to modify the way an insurer’s premiums are fixed under sections 13 and 13A if the State is the insurer; or

(b) to exempt the State from compliance with section 22 .

(10) A regulation may provide for anything necessary or convenient relating to the transfer to the State of CTP insurance business from the old insurer, including for example the following—

(a) the transfer of some or all of the rights and liabilities of the old insurer relating to CTP insurance policies transferred to the State;

(b) continuing or further obligations of the old insurer relating to the transferred CTP insurance policies;

(c) the payment of amounts into or out of any fund controlled by the State that relates to insurance provided for or by the State.

(11) In this section—

"applied provision" means a provision of this Act applied to the State under subsection (7) .

"old insurer" means the insurer whose licence is withdrawn or under suspension.