New South Wales Insurance Regulation 2014 under the Insurance Act 1902 Her Excellency the Governor, with the advice of the Executive Council, has made the following Regulation under the Insurance Act 1902. BRAD HAZZARD, MP Attorney General Explanatory note The object of this Regulation is to remake, with minor amendments, the provisions of the Insurance Regulation 2009, which is repealed on 1 September 2014 by section 10 (2) of the Subordinate Legislation Act 1989. The Regulation makes provision with respect to the following: (a) the exemption of certain contracts of marine insurance and contracts of life insurance from Part 6 of the Insurance Act 1902 (the Act), (b) the exemption of contracts of insurance that are subject to the Insurance Contracts Act 1984 of the Commonwealth and contracts of reinsurance from sections 18, 18A, 18B and 19 of the Act, (c) savings and formal matters. This Regulation is made under the Insurance Act 1902, including section 21 (1). This Regulation comprises or relates to matter set out in Schedule 3 to the Subordinate Legislation Act 1989, namely matters of a machinery nature and matters that are not likely to impose an appreciable burden, cost or disadvantage on any sector of the public. Published LW 22 August 2014 (2014 No 548) Insurance Regulation 2014 [NSW] Insurance Regulation 2014 under the Insurance Act 1902 1 Name of Regulation This Regulation is the Insurance Regulation 2014. 2 Commencement This Regulation commences on 1 September 2014 and is required to be published on the NSW legislation website. Note. This Regulation replaces the Insurance Regulation 2009 which is repealed on 1 September 2014 by section 10 (2) of the Subordinate Legislation Act 1989. 3 Definition (1) (2) 4 In this Regulation: the Act means the Insurance Act 1902. Notes included in this Regulation do not form part of this Regulation. For the purposes of section 21 (1) (b) of the Act: (a) contracts of marine insurance and contracts of life insurance are exempt from the provisions of Part 6 of the Act (other than the provisions from which those contracts are already exempt by virtue of section 21 (2) of the Act), and (b) contracts of insurance that are subject to the Insurance Contracts Act 1984 of the Commonwealth and contracts of reinsurance are exempt from the operation of sections 18, 18A, 18B and 19 of the Act. Exemption of certain contracts of insurance 5 Savings Any act, matter or thing that, immediately before the repeal of the Insurance Regulation 2009, had effect under that Regulation continues to have effect under this Regulation. Page 2 Published LW 22 August 2014 (2014 No 548)