Corporations Act 2001
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
View history note
Hide history noteCCH note - modifying legislative instruments: The application of Pt 7.8 is affected by the following legislative instruments that commenced or were amended on or after 1 January 2022: the ASIC Corporations (Investor Directed Portfolio Services) Instrument 2023/669 (Div 8 only) (as amended by ASIC Corporations (Amendment) Instrument 2024/554).
For legislative instruments or class orders before 1 January 2022 that affect the application of Pt 7.8, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
CCH Note: Division 4 is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.
CCH Note: Section 985A is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.
In this Division:
contract of insurance
includes a contract of life insurance.
Note: Contract of life insurance has a meaning affected by subsection (2) .
insured
, in relation to a contract of life insurance, means a person (other than the insurer) who is entitled to a benefit under the contract, whether that person is the life insured or some other person.
Note: Intending insured has a corresponding meaning.
985A(2)
For the purposes of this Division, if: (a) a life policy would not ordinarily be regarded as a contract of life insurance; and (b) liability under the policy is borne by a company registered under section 21 of that Act; and (c) the policy was entered into after the commencement of section 9D of the Insurance (Agents and Brokers) Act 1984 as in force before the commencement of this Chapter;
the policy is taken to be a contract of life insurance.
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