Australian Capital Territory Repealed Acts

This legislation has been repealed.

INSURANCE AUTHORITY ACT 2000 (REPEALED) - SECT 9

The functions of ACTIA are—

        (a)     to carry on the business of insurer of Territory risks; and

        (b)     to take out insurance of Territory risks with other entities; and

        (c)     to satisfy or settle claims in relation to Territory risks (including claims that may not necessarily be valid in law); and

        (d)     with the Treasurer's approval, to take action for the realisation, enforcement, assignment or extinguishment of rights against third parties arising out of or in relation to its business, including, for example—

              (i)     taking possession of, dealing with or disposing of, property; or

              (ii)     carrying on a third-party's business as a going concern; and

        (e)     to promote good risk management practices; and

        (f)     to give advice to the Minister about insurance and the management of Territory risks; and

        (g)     to exercise any other functions given to it under this Act or any other Territory law.