Commonwealth Numbered Acts

Insurance (Agents and Brokers) Act 1984 No. 75 of 1984 - SECT 9

9. In this Act, unless the contrary intention appears-

''binder'' means-

   (a)  an authority given by an insurer to an insurance intermediary to enter
        into, as agent for the insurer, contracts of insurance on behalf of
        the insurer as insurer; or

   (b)  an authority given by an insurer to an insurance intermediary to deal
        with and settle, as agent for the insurer, claims against the insurer
        as insurer,

but does not include an authority of a kind referred to in paragraph (a) that
is limited to effecting contracts of insurance, or contracts of insurance of a
particular class, by way of provisional cover unless there is also in
existence an authority given by the insurer to the insurance intermediary to
enter into, as agent for the insurer and otherwise than by way of provisional
cover, contracts of insurance, or contracts of insurance of that class, as the
case may be;

''Commissioner'' means the Life Insurance Commissioner or the Insurance
Commissioner;

''contravention'', in relation to this Act, includes a failure to comply with
this Act;

''corporation'' means a body corporate constituted by a law of the
Commonwealth or of a State or Territory or a company;

''general insurance broker'' means a person who is for the time being
registered under Part III in respect of general insurance business;

''general insurance business'' has the same meaning as ''insurance business''
has in the Insurance Act 1973;

''insolvent company under administration'' means a company-

   (a)  in respect of which a compromise or arrangement is being administered
        under Part VIII of the Companies Act 1981 or of the corresponding
        provisions of the law of a State or Territory;

   (b)  the property or part of the property of which is in the possession or
        under the control of a receiver, or of a receiver and manager;

   (c)  that is under official management pursuant to Part XI of the
        Companies Act 1981 or of the corresponding provisions of the law of a
        State or Territory; or

   (d)  that is in the course of being wound up or in respect of which a
        provisional liquidator has been appointed;

''insolvent under administration'' means a person-

   (a)  who, under the Bankruptcy Act 1966 or the law of an external
        Territory, is a bankrupt in respect of a bankruptcy from which he has
        not been discharged;

   (b)  who has executed a deed of assignment under Part X of the Bankruptcy
        Act 1966 or the corresponding provisions of the law of an external
        Territory where the terms of the deed have not been fully complied
        with;

   (c)  who has executed a deed of arrangement under Part X of the
        Bankruptcy Act 1966 or the corresponding provisions of the law of an
        external Territory where the terms of the deed have not been fully
        complied with; or

   (d)  whose creditors have accepted a composition under Part X of the
        Bankruptcy Act 1966 or the corresponding provisions of the law of an
        external Territory where a final payment has not been made under the
        composition;

''insurance broker'' means a person who carries on the business of arranging
contracts of insurance, whether in Australia or elsewhere, as agent for
intending insureds;

''Insurance Commissioner'' includes a person acting as the Insurance
Commissioner;

''insurance intermediary'' means a person who-

   (a)  for reward; and

   (b)  as an agent for one or more insurers or as an agent for intending
        insureds,

arranges contracts of insurance in Australia or elsewhere, and includes an
insurance broker;

''insured'', in relation to a contract of life insurance, means a person
(other than the insurer) who is entitled to a benefit under the contract,
whether that person is the life insured or some other person, and ''intending
insured'' has a corresponding meaning;

''life insurance broker'' means a person who is for the time being registered
under Part III in respect of life insurance business;

''life insurance business'' has the same meaning as in the Life Insurance Act
1945;

''Life Insurance Commissioner'' includes a person acting as the Life
Insurance Commissioner;

''registered insurance broker'' means a person who is for the time being
registered under Part III, whether in respect of general insurance business or
life insurance business or in respect of each of those businesses;

''relevant Commissioner'' means-

   (a)  in relation to matters concerning life insurance-the Life Insurance
        Commissioner; and

   (b)  in relation to matters concerning general insurance-the Insurance
        Commissioner.