Treasury Laws Amendment (2023 Law Improvement Package No. 1) Act 2023 (76 of 2023)

Schedule 4   Insurance

Part 4   Statutory funds of life companies

Life Insurance Act 1995

77   Schedule

Insert:

approved body has the meaning given by the regulations.

derivative :

(a) subject to paragraph (b), means any of the following:

(i) a derivative (within the meaning of Chapter 7 of the Corporations Act 2001);

(ii) a foreign exchange contract (within the meaning of that Chapter);

(iii) an arrangement that is a forward, swap or option, or any combination of those things, in relation to one or more commodities; and

(b) does not include anything prescribed by the regulations for the purposes of this paragraph.

financial property has the same meaning as in the Payment Systems and Netting Act 1998.

intermediary of intermediated financial property has the same meaning as in paragraph (h) of the definition of financial property in section 5 of the Payment Systems and Netting Act 1998.

intermediated financial property has the same meaning as in the Payment Systems and Netting Act 1998.