Financial Sector Reform (Hayne Royal Commission Response - Protecting Consumers (2019 Measures)) Act 2020 (2 of 2020)

Schedule 1   Unfair contract terms in insurance contracts

Australian Securities and Investments Commission Act 2001

6   At the end of subsections 12GND(1) and (2)

Add:

; or (c) if the contract is an Insurance Contracts Act insurance contract - a person who is a third party beneficiary (within the meaning of the Insurance Contracts Act 1984) under the contract.