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INSURANCE REGULATIONS 2002 - REG 7CA

Entitlement to payment of third party -- period for making claim

Start day

         (1)   For subparagraph 62ZZG (1) (aa) (i) of the Act, the day on which the period mentioned in paragraph 62ZZG (1) (aa) of the Act starts in relation to:

                (a)    a person who is entitled to make a claim in relation to a recoverable amount, as described in paragraph 62ZZG (1) (a) of the Act; and

               (b)    the general insurer;

is specified in the following table.

Item

If ...

the day on which the period starts is ...

1

the person did not make a claim in relation to the recoverable amount before the Minister made the declaration, under subsection 62ZZC (1) of the Act, that Division 3 of Part VC of the Act applies in relation to the general insurer

the day on which the Minister made the declaration

2

the person made a claim in relation to the recoverable amount before the Minister made the declaration, under subsection 62ZZC (1) of the Act, that Division 3 of Part VC of the Act applies in relation to the general insurer

the day on which the person made the claim

End day

         (2)   For subparagraph 62ZZG (1) (aa) (ii) of the Act, the day on which the period mentioned in paragraph 62ZZG (1) (aa) of the Act ends is the day that occurs 12 months after the day on which the Minister made the declaration, under subsection 62ZZC (1) of the Act, that Division 3 of Part VC of the Act applies in relation to the general insurer .

Note    APRA may extend the period within which a claim may be made -- see subsection 62ZZA (1) of the Act.


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