Financial Sector Reform (Hayne Royal Commission Response) Act 2020 (135 of 2020)
Schedule 2 Insurer avoidance of life insurance contracts, and duty to take reasonable care not to make a misrepresentation
Part 2 Duty to take reasonable care not to make a misrepresentation
Insurance Contracts Act 1984
19 Subsection 29(1)
Repeal the subsection (not including the note), substitute:
Scope
(1) This section applies if a relevant failure occurs in relation to a contract of life insurance, but does not apply if:
(a) the insurer would have entered into the contract even if the failure had not occurred; or
(b) the failure was in respect of the date of birth of one or more of the life insureds.