Commonwealth: Insurance and Superannuation Commissioner (Consequential Provisions) Act 1987 (Cth)

Insurance and Superannuation Commissioner (Consequential Provisions) Act 1987 No. 99 of 1987 TABLE OF PROVISIONS PART I—PRELIMINARY Section 1. Short title 2. Commencement PART II—AMENDMENTS OF THE COMPANIES ACT 1981 3. Principal Act 4. Application for winding-up PART III—AMENDMENTS OF THE INSURANCE ACT 1973 5. Principal Act 6. Interpretation 7. Repeal of sections 8, 9, 10, 11, 12, 14, 15, 18 and 19 and substitution of new section: 8. General administration of Act 8. Repeal of section 20 9. Secrecy PART IV—AMENDMENTS OF THE INSURANCE (AGENTS AND BROKERS) ACT 1984 10. Principal Act 11. Interpretation 12. Insurance intermediaries other than brokers to operate under written agreements 13. Brokers not to carry on business unless registered TABLE OF PROVISIONS—continued Section 14. Applications for registration 15. Registration of brokers 16. Registers to be kept 17. Inspection of Registers, accounts and contracts 18. Delay in registration or renewal 19. Suspension or cancellation of registration 20. Insurance broking accounts 21. Hearing before making adverse decision 22. Application for review 23. Statement to accompany notice of decisions 24. Certain particulars to be included in reports 25. Delegation PART V—AMENDMENTS OF THE LIFE INSURANCE ACT 1945 26. Principal Act 27. Interpretation 28. Repeal of sections 9, 9a, 9b, 9c, 9d, 9e, 9f, 9g and 9h and substitution of new section: 9. General administration of Act 29. Repeal of section 10a PART VI—AMENDMENTS OF THE PUBLIC SERVICE ACT 1922 30. Principal Act 31. Officers engaged in eligible public employment PART VII—TRANSITIONAL 32. Transitional—acts and things done by or in relation to the Insurance Commissioner before commencement etc. 33. Transitional—acts and things done by or in relation to the Life Insurance Commissioner before commencement etc. Insurance and Superannuation Commissioner (Consequential Provisions) Act 1987 No. 99 of 1987 An Act to amend certain Acts in consequence of the enactment of the Insurance and Superannuation Commissioner Act 1987, and for related purposes [Assented to 5 November 1987] BE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows: PART I—PRELIMINARY Short title 1. This Act may be cited as the Insurance and Superannuation Commissioner (Consequential Provisions) Act 1987. Commencement 2. This Act shall come into operation on the day on which the Insurance and Superannuation Commissioner Act 1987 comes into operation. PART II—AMENDMENTS OF THE COMPANIES ACT 1981 Principal Act 3. The Companies Act 19811 is in this Part referred to as the Principal Act. Application for winding-up 4. Section 363 of the Principal Act is amended: (a) by omitting paragraph (1) (h) and substituting the following paragraph: "(h) the Insurance and Superannuation Commissioner appointed under the Insurance and Superannuation Commissioner Act 1987;"; and (b) by omitting from subsection (2) "Insurance Commissioner" and substituting "Insurance and Superannuation Commissioner". PART III—AMENDMENTS OF THE INSURANCE ACT 1973 Principal Act 5. The Insurance Act 19732 is in this Part referred to as the Principal Act. Interpretation 6. Section 3 of the Principal Act is amended: (a) by omitting from subsection (1) the definition of "Commissioner" and substituting the following definition: "'Commissioner' means the Insurance and Superannuation Commissioner appointed under the Insurance and Superannuation Commissioner Act 1987, or a person for the time being acting as Insurance and Superannuation Commissioner under that Act;"; and (b) by omitting from subsection (1) the definition of "Acting Insurance Commissioner". 7. Sections 8, 9, 10, 11, 12, 14, 15, 18 and 19 of the Principal Act are repealed and the following section is substituted: General administration of Act "8. Subject to any directions of the Treasurer, the Commissioner shall have the general administration of this Act.". Repeal of section 20 8. Section 20 of the Principal Act is repealed. Secrecy 9. Section 126 of the Principal Act is amended by omitting subsection (1) and substituting the following subsection: "(1) Subsection (2) applies to: (a) any person who is or has been the Commissioner or a member of the staff assisting the Commissioner; and (b) any person who, at any time before the commencement of this subsection, was the Insurance Commissioner or a member of the staff assisting the Insurance Commissioner.". PART IV—AMENDMENTS OF THE INSURANCE (AGENTS AND BROKERS) ACT 1984 Principal Act 10. The Insurance (Agents and Brokers) Act 19843 is in this Part referred to as the Principal Act. Interpretation 11. Section 9 of the Principal Act is amended: (a) by omitting the definition of "Commissioner" and substituting the following definition: " 'Commissioner' means the Insurance and Superannuation Commissioner appointed under the Insurance and Superannuation Commissioner Act 1987, or a person for the time being acting as Insurance and Superannuation Commissioner under that Act;"; and (b) by omitting the definitions of "Insurance Commissioner", "Life Insurance Commissioner" and "relevant Commissioner". Insurance intermediaries other than brokers to operate under written agreements 12. Section 10 of the Principal Act is amended: (a) by omitting from subsection (4) "relevant"; and (b) by omitting from subsection (5) "A relevant Commissioner" and substituting "The Commissioner". Brokers not to carry on business unless registered 13. Section 19 of the Principal Act is amended by omitting from paragraph (1) (b) and subsection (3) "relevant". Applications for registration 14. Section 20 of the Principal Act is amended: (a) by omitting subsection (1) and substituting the following subsection: "(1) A person who wants to be registered under this Part in respect of life insurance business or in respect of general insurance business may apply to the Commissioner accordingly."; (b) by omitting from paragraph (2a) (b) "relevant"; and (c) by omitting from paragraphs (3) (a) and (b) "a Commissioner" and substituting "the Commissioner". Registration of brokers 15. Section 21 of the Principal Act is amended: (a) by omitting from subsections (1), (2) and (4) "relevant"; (b) by omitting from subsection (4) "that Commissioner" (wherever occurring) and substituting "the Commissioner"; and (c) by omitting from subsection (5) "a Commissioner" and substituting "the Commissioner". Registers to be kept 16. Section 22 of the Principal Act is amended: (a) by omitting subsection (1) and substituting the following subsection: "(1) For the purposes of this Act, the Commissioner shall cause registers to be kept, to be known as the Register of Life Insurance Brokers and the Register of General Insurance Brokers."; and (b) by omitting from subsection (2) "relevant". Inspection of Registers, accounts and contracts 17. Section 23 of the Principal Act is amended by omitting from paragraphs (b) and (c) "a Commissioner" and substituting "the Commissioner". Delay in registration or renewal 18. Section 24 of the Principal Act is amended by omitting from paragraphs (1) (a) and (b) and (2) (a) and (b) and subsections (3) and (4) "relevant". Suspension or cancellation of registration 19. Section 25 of the Principal Act is amended: (a) by omitting from subsections (1), (3) and (5) "relevant" (wherever occurring); and (b) by omitting from subsection (7) "a Commissioner" and substituting "the Commissioner". Insurance broking accounts 20. Section 26 of the Principal Act is amended by omitting from subsection (3) "relevant". Hearing before making adverse decision 21. Section 41 of the Principal Act is amended by omitting "A Commissioner" and substituting "The Commissioner". Application for review 22. Section 42 of the Principal Act is amended by omitting from subsection (1) "a Commissioner" and substituting "the Commissioner". Statement to accompany notice of decisions 23. Section 43 of the Principal Act is amended by omitting from subsection (1) "a Commissioner" and substituting "the Commissioner". Certain particulars to be included in reports 24. Section 45 of the Principal Act is amended by omitting "A relevant Commissioner" and substituting "The Commissioner". Delegation 25. Section 47 of the Principal Act is amended: (a) by omitting from subsection (1) "A Commissioner" and substituting "The Commissioner"; (b) by omitting from subsections (2) and (3) "a Commissioner" and substituting "the Commissioner"; and (c) by omitting from subsection (2) "that Commissioner" and substituting "the Commissioner". PART V—AMENDMENTS OF THE LIFE INSURANCE ACT 1945 Principal Act 26. The Life Insurance Act 19454 is in this Part referred to as the Principal Act. Interpretation 27. Section 4 of the Principal Act is amended: (a) by omitting from subsection (1) the definition of "the Commissioner"; and (b) by inserting in subsection (1) the following definition in its appropriate alphabetical position (determined on a letter-by-letter basis): " 'Commissioner' means the Insurance and Superannuation Commissioner appointed under the Insurance and Superannuation Commissioner Act 1987, or a person for the time being acting as Insurance and Superannuation Commissioner under that Act;". 28. Sections 9, 9a, 9b, 9c, 9d, 9e, 9f, 9g and 9h of the Principal Act are repealed and the following section is substituted: General administration of Act "9. Subject to any directions of the Treasurer, the Commissioner shall have the general administration of this Act.". Repeal of section 10a 29. Section 10a of the Principal Act is repealed. PART VI—AMENDMENTS OF THE PUBLIC SERVICE ACT 1922 Principal Act 30. The Public Service Act 19225 is in this Part referred to as the Principal Act. Officers engaged in eligible public employment 31. Section 87c of the Principal Act is amended: (a) by adding at the end of paragraph (4) (c) "or"; and (b) by omitting paragraph (4) (d). PART VII—TRANSITIONAL Transitional—acts and things done by or in relation to the Insurance Commissioner before commencement etc. 32. (1) In this section: (a) "instrument" means any instrument (including rules, regulations and by-laws) made, granted or issued pursuant to any Act; and (b) a reference to a thing done by, or in relation to," the Insurance Commissioner includes a reference to a thing done by, or in relation to: (i) a person acting as Insurance Commissioner; or (ii) a delegate of the Insurance Commissioner. (2) Any act or thing done at any time before the commencement of this Act by, or in relation to, the Insurance Commissioner, being an act or thing done pursuant to, or in relation to, the duties of the Insurance Commissioner under any Act, shall have such effects after the commencement of this Act as it would have if it had been done by, or in relation to, the Insurance and Superannuation Commissioner pursuant to, or in relation to, the corresponding duties of the Insurance and Superannuation Commissioner. (3) Where, immediately before the commencement of this Act, there were pending in any court or tribunal any proceedings to which the Insurance Commissioner was a party, those proceedings may be continued after the commencement of this Act with the Insurance and Superannuation Commissioner being substituted for the Insurance Commissioner as a party to the proceedings. (4) A reference in any instrument to the Insurance Commissioner shall, in relation to any act or thing done, or to be done, after the commencement of this Act, be read as a reference to the Insurance and Superannuation Commissioner. Transitional—acts and things done by or in relation to the Life Insurance Commissioner before commencement etc. 33. (1) In this section: (a) "instrument" means any instrument (including rules, regulations and by-laws) made, granted or issued pursuant to any Act; and (b) a reference to a thing done by, or in relation to, the Life Insurance Commissioner includes a reference to a thing done by, or in relation to: (i) a person acting as Life Insurance Commissioner; or (ii) a delegate of the Life Insurance Commissioner. (2) Any act or thing done at any time before the commencement of this Act by, or in relation to, the Life Insurance Commissioner, being an act or thing done pursuant to, or in relation to, the duties of the Life Insurance Commissioner under any Act, shall have such effects after the commencement of this Act as it would have if it had been done by, or in relation to, the Insurance and Superannuation Commissioner pursuant to, or in relation to, the corresponding duties of the Insurance and Superannuation Commissioner. (3) Where, immediately before the commencement of this Act, there were pending in any court or tribunal any proceedings to which the Life Insurance Commissioner was a party, those proceedings may be continued after the commencement of this Act with the Insurance and Superannuation Commissioner being substituted for the Life Insurance Commissioner as a party to the proceedings. (4) A reference in any instrument to the Life Insurance Commissioner shall, in relation to any act or thing done, or to be done, after the commencement of this Act, be read as a reference to the Insurance and Superannuation Commissioner. NOTES 1. No. 89, 1981, as amended. For previous amendments, see No. 153, 1981; Nos. 26 and 80, 1982; No. 108, 1983; No. 13, 1984; Nos. 140, 192 and 193, 1985; Nos. 68 and 163, 1986; and No. 6, 1987. 2. No. 76, 1973, as amended. For previous amendments, see No. 216, 1973; No. 157, 1976; No. 31, 1977; Nos. 92 and 177, 1981; No. 26, 1982; Nos. 54 and 129, 1983; No. 72, 1984; No. 187, 1985; and No. 168, 1986. 3. No. 75, 1984, as amended. For previous amendments, see Nos. 76 and 168, 1986. 4. No. 28, 1945, as amended. For previous amendments, see Nos. 65 and 80, 1950; No. 94, 1953; No. 3, 1958; No. 93, 1959; No. 29, 1961; No. 145, 1965; Nos. 78 and 216, 1973; No. 32, 1977; No. 177, 1978; Nos. 92 and 176, 1981; No. 143, 1983; No. 74, 1984; and No. 65, 1985. 5. No. 21, 1922, as amended. For previous amendments, see No. 46, 1924; No. 41, 1928; No. 19, 1930; No. 21, 1931; No. 72, 1932; No. 38, 1933; Nos. 45 and 46, 1934; No. 72, 1936; No. 41, 1937; No. 72, 1939; No. 88, 1940; No. 5, 1941; No. 19, 1943; Nos. 11, 29 and 43, 1945; No. 16, 1946; Nos. 1, 38, 52 and 84, 1947; Nos. 35 and 75, 1948; Nos. 51 and 80, 1950; Nos. 46 and 48, 1951; No. 22, 1953; No. 63, 1954; No. 18, 1955; Nos. 13 and 39, 1957; No. 11, 1958; Nos. 17 and 105, 1960; Nos. 2 and 75, 1964; Nos. 47 and 85, 1966; Nos. 2 and 115, 1967; Nos. 59, 114 and 120, 1968; No. 6, 1972; Nos. 21, 71, 73 and 209, 1973; No. 59, 1974; No. 40, 1975; Nos. 193 and 194, 1976; Nos. 6 and 80, 1977; Nos. 36 and 170, 1978; Nos. 52 and 155, 1979; No. 177, 1980; No. 61, 1981; Nos. 26 and 80, 1982; No. 111, 1982 (as amended by No. 39, 1983); Nos. 39, 56 and 92, 1983; No. 63, 1984 (as amended by No. 165, 1984); No. 165, 1984; Nos. 65, 166 and 187, 1985; and Nos. 28, 29, 76 and 153, 1986. [Minister's second reading speech made in— House of Representatives on 18 September 1987 Senate on 6 October 1987]