Commonwealth Numbered Acts

INSURANCE AMENDMENT ACT 1977 No. 31 of 1977 - SECT 4

4. (1) Section 5 of the Principal Act is amended by omitting paragraph (c) of
sub-section (2) and substituting the following paragraph:-

''(c) the Export Finance and Insurance Corporation established by the
Export Finance and Insurance Corporation Act 1974;''.

(2) Section 5 of the Principal Act is amended by omitting paragraph (d) of
sub-section (2) and substituting the following paragraph:-

''(d) the Defence Service Homes Corporation established by the Defence Service
Homes Corporation Act 1976;''.

(3) Section 5 of the Principal Act is amended-

   (a)  by adding at the end of paragraph (g) of sub-section (2) the word
        ''or'';

   (b)  by omitting from paragraph (h) of sub-section (2) the word ''or''
        (last occurring);

   (c)  by omitting paragraph (i) of sub-section (2); and

   (d)  by adding at the end thereof the following sub-section:-

''(3) Where a prescribed body (not being a company) complies with such
conditions as are prescribed in respect of the body, this Act does not apply-

   (a)  subject to paragraph (b)-to or with respect to the insurance business
        carried on by the body; or

   (b)  if the regulations declare that this Act is not to apply with respect
        to the carrying on by the body of a specified class of insurance
        business-to or with respect to any insurance business included in that
        class of insurance business that is carried on by the body.''.