Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.8 - OTHER PROVISIONS RELATING TO CONDUCT ETC. CONNECTED WITH FINANCIAL PRODUCTS AND FINANCIAL SERVICES, OTHER THAN FINANCIAL PRODUCT DISCLOSURE  

Division 4 - Special provisions relating to insurance  

SECTION 985C   REGULATIONS MAY IMPOSE OTHER REQUIREMENTS ETC. IF FINANCIAL SERVICES LICENSEE IS NOT THE INSURER  

985C(1)    
The regulations may impose requirements to be complied with by a financial services licensee in relation to, or make other provision dealing with, a situation specified in subsection (2) that arises in relation to a contract or proposed contract of insurance under which the licensee is not the insurer.

985C(2)    
The situations are as follows:

(a)    the licensee receives an amount as a premium or instalment of premium;

(b)    the licensee does not receive an amount as a premium or instalment of premium by a particular time;

(c)    the licensee is not aware of the amount of a premium or instalment of premium that is to be paid;

(d)    the licensee receives money from the insured or intending insured but the risk or part of the risk has not been accepted by a particular time;

(e)    the licensee receives money from the insurer for payment to or on behalf of the insured.



 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.