Acts and Instruments (Framework Reform) (Consequential Provisions) Act 2015 (126 of 2015)

Schedule 1   Consequential amendments

Part 1   Main amendments

Insurance Act 1973

310   Subsections 131A(7) and (8)

Repeal the subsections, substitute:

Authorisation or amendment not disallowable

(7) An authorisation or amendment made under this section is a legislative instrument, but section 42 (disallowance) of the Legislation Act 2003 does not apply to the authorisation or amendment.

Note: Part 4 of Chapter 3 (sunsetting) of the Legislation Act 2003 does not apply to the authorisation or amendment: see regulations made for the purposes of paragraph 54(2)(b) of that Act.

When authorisation or amendment commences

(8) The authorisation or amendment commences from the time it is made, despite subsection 12(1) of the Legislation Act 2003.

(9) Subsection 12(2) (retrospective application of legislative instruments) of the Legislation Act 2003 does not apply to the authorisation or amendment.