New South Wales Repealed Acts

This legislation has been repealed.

STAMP DUTIES ACT 1920 - SECT 86

86 Definitions

(1) In this Division and in the Second Schedule:
"approved" means approved by the Chief Commissioner.
"exempt insurance" means insurance to which this Division does not apply by virtue of section 87.
"Class 1 insurance" means insurance, other than:

(a) Class 2 insurance, or

(a1) Class 3 insurance, or

(b) life insurance, or

(c) exempt insurance.

"Class 2 insurance" means:

(a) motor vehicle insurance, being insurance covering any one or more of the following:

(i) the loss (including the loss by theft) of a motor vehicle,

(ii) damage to a motor vehicle,

(iii) loss of or damage to property by a motor vehicle,

(b) aviation insurance, being insurance covering any one or more of the following:

(i) the loss (including the loss by theft) of an aircraft,

(ii) damage to an aircraft,

(iii) the death of or injury to a person by an aircraft or a thing falling from an aircraft,

(iv) the loss of or damage to property by an aircraft or a thing falling from an aircraft,

(c) disability income insurance, being insurance effected by a policy of insurance under which an amount is payable in the event of disablement of the insured by accident or sickness,

(d) occupational indemnity insurance, being insurance covering liability arising out of the provision by a person of professional services or other services, or

(g) hospital and ancillary health benefits insurance, being insurance covering liability incurred in respect of fees or charges for hospital treatment, or for health care ancillary to hospital treatment, if the liability is not covered by an organisation registered under Part VI of the National Health Act 1953 of the Commonwealth.

"Class 3 insurance" means:

(a) crop insurance, being insurance covering:

(i) loss due to the destruction of, or physical damage to, any pasturage or any crop of grain, fruit, vegetables or other plants, where the destruction or damage occurs while the pasturage or crop is being grown, or

(ii) loss due to the destruction of, or physical damage to, the product of any such pasturage or crop, where the destruction or damage occurs while the product of the pasturage or crop is being stored or transported,

but not being insurance covering loss referred to in subparagraph (ii) unless the contract by which the insurance is effected also effects insurance covering the loss referred to in subparagraph (i), or

(b) livestock insurance, being insurance covering:

(i) loss due to the death of, or physical damage to, any animal, whether domesticated or wild, or

(ii) loss due to the death of, or physical damage to, any genetic material of any such animal, or

(iii) loss due to the theft of any such animal or genetic material.

"insurance" includes assurance.
"life insurance" means insurance on a life or lives or on any event or contingency relating to or depending on a life or lives, but does not include insurance for any payment agreed to be made on the death of a person only from accident or violence or otherwise than from a natural cause or as compensation for personal injury.
"life insurance rider" means insurance (other than life insurance or disability income insurance referred to in paragraph (c) of the definition of "Class 2 insurance" in this subsection) which:

(a) is attached to a policy of life insurance,

(b) adds specified events and contingencies to those insured under the policy,

(c) is subject to the terms and conditions of the policy, and

(d) is not available separately from such a policy.

"motor vehicle" means a motor vehicle or trailer within the meaning of the Motor Accidents Act 1988 .
"premium" means the total amount paid in New South Wales or elsewhere to an insurer in respect of insurance effected in New South Wales or elsewhere by the insurer without any deduction for any amount paid or payable by way of discount to an agent, but does not include an amount paid in respect of stamp duty or by way of re-insurance.
"registered person" means a person registered for the time being under this Division.
"risk" includes contingency or event.

(2) A reference in this Division to the receipt of a premium includes a reference to the crediting of the amount of a premium to an account.