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The Insurance Act 1973 (Cth) sets minimum capital and solvency requirements for companies wanting to enter or operate in the insurance market. [1]Chapter 7 of the Corporations Act 2001 (Cth) regulates the way in which insurers and insurance agents and brokers carry on business and how they deal with the people they do business with and intend to do business with.
[131] [132] Where a contract is not expressly or implicitly prohibited by statute, the court must discern from the scope and purpose of the relevant statute "whether the legislative purpose will be fulfilled without regarding the contract or the trust as void and unenforceable". [133] There are a range of consequences of illegality:
Insurance Act 1932 1932 (No. 4) No Insurance Act 1973 1973 (No. 76) Yes (as amended) Insurance (Agents and Brokers) Act 1984 1984 (No. 75) No Insurance and Superannuation Commissioner Act 1987 1987 (No. 98) No Insurance Contracts Act 1984 1984 (No. 80) Yes (as amended)
AustLII was established in 1995. [1] [2] Founded as a joint program of the University of Technology Sydney and the University of New South Wales law schools, its initial funding was provided by the Australian Research Council. [3] Its public policy purpose is to improve access to justice through access to legal information. [4]
Pain in the lower left abdomen may be caused by several different conditions. Experts explain.
Insurance is characterized as a business vested or affected with the public interest. [2] Thus, the business of insurance, although primarily a matter of private contract, is nevertheless of such concern to the public as a whole that it is subject to governmental regulation to protect the public’s interests.
An alleged Chinese spy who forged a close relationship with Prince Andrew has been identified by a British court, the latest twist in a case that has shone a light on Beijing’s influence inside ...
The Village People’s lyricist and lead singer has hit out at the “false assumption” that the band’s biggest hit, “YMCA,” is a “gay anthem.”