Corporations Regulations 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
PART 7.1
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PRELIMINARY
Division 1
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General
REGULATION 7.1.04CB
7.1.04CB
WHEN PROVIDING CERTAIN CLAIMS HANDING AND SETTLING SERVICES IS NOT THE PRIMARY PART OF A BUSINESS
For the purposes of paragraph 761DA(2)(b) of the Act, circumstances in which a person ' s provision of claims handling and settling services on behalf of one or more insurers is taken not to be the primary part of a business carried on by the person are when those services are: (a) investigating the validity of claims under insurance products, or providing assistance in relation to such investigations; or (b) assessing the extent of insurers ' liabilities to other persons under insurance products under which claims are made, or providing assistance in relation to such assessments.
View history note
Hide history note[ CCH Note: Pursuant to the Corporations Amendment Regulations 2001 (No 4) (SR 2001 No 319) effective 11 March 2002, Chapter 7 (Securities) comprising reg 7.1.01 - 7.15.01 and Chapter 8 (The futures industry) comprising reg 8.1.01 - 8.7.03 are replaced by a new Chapter 7 (Financial services and markets) comprising reg 7.1.01 - 7.12.01. As the subject matter of the new Chapter 7 relates to the new financial services reform regime, " inserted " has been used in the history notes for each provision, and all references to the former provisions have been removed.]
For the purposes of paragraph 761DA(2)(b) of the Act, circumstances in which a person ' s provision of claims handling and settling services on behalf of one or more insurers is taken not to be the primary part of a business carried on by the person are when those services are: (a) investigating the validity of claims under insurance products, or providing assistance in relation to such investigations; or (b) assessing the extent of insurers ' liabilities to other persons under insurance products under which claims are made, or providing assistance in relation to such assessments.
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