Federal Register of Legislation - Australian Government

Primary content

Regulations as made
This Instrument amends the Terrorism Insurance Regulations 2003 to provide the Australian Reinsurance Pool Corporation with the function of preparing to operate a cyclones and related flood damage reinsurance pool.
Administered by: Treasury
Exempt from sunsetting by the Legislation (Exemptions and Other Matters) Regulation 2015 s12 item 63
Registered 15 Oct 2021
Tabling HistoryDate
Tabled HR18-Oct-2021
Tabled Senate19-Oct-2021
Table of contents.

Commonwealth Coat of Arms of Australia

 

Terrorism Insurance Amendment (Cyclones and Related Flood Damage) Regulations 2021

I, General the Honourable David Hurley AC DSC (Retd), Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulations.

Dated 14 October 2021

David Hurley

Governor‑General

By His Excellency’s Command

Michael Sukkar

Assistant Treasurer, Minister for Housing and Minister for Homelessness, Social and Community Housing

 

 

 

  

  


Contents

1............ Name............................................................................................................................. 1

2............ Commencement............................................................................................................. 1

3............ Authority....................................................................................................................... 1

4............ Schedules...................................................................................................................... 1

Schedule 1—Amendments                                                                                                                          2

Terrorism Insurance Regulations 2003                                                                                             2

 


1  Name

                   This instrument is the Terrorism Insurance Amendment (Cyclones and Related Flood Damage) Regulations 2021.

2  Commencement

             (1)  Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1.  The whole of this instrument

The day after this instrument is registered.

16 October 2021

Note:          This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

             (2)  Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

                   This instrument is made under the Terrorism Insurance Act 2003.

4  Schedules

                   Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1Amendments

  

Terrorism Insurance Regulations 2003

1  Regulations 4 and 5

After “For”, insert “the purposes of”.

2  Regulation 6

Omit “For”, substitute “(1) For the purposes of”.

3  At the end of regulation 6

Add:

             (2)  For the purposes of paragraph 10(b) of the Act, a function of the Corporation is to prepare for the operation of a cyclones and related flood damage reinsurance pool.