Northern Territory Consolidated Acts

TERRITORY INSURANCE OFFICE ACT

TABLE OF PROVISIONS

           Long Title

   PART 1--PRELIMINARY MATTERS

   1.      Short title  
   2.      Commencement  
   3.      Definitions  
   3A.     Meaning of associate  
   3B.     Application of Part IIAA of Criminal Code  

   PART 2--TERRITORY INSURANCE OFFICE

   4.      Establishment of Office  
   5.      Functions of Office  
   6.      Powers of Office  
   7.      Ministerial direction  
   8.      Sound insurance principles to be followed  
   8A.     Statements of corporate intent – timetable and procedure  
   8B.     Statements of corporate intent – contents  
   8C.     Statements of corporate intent – reports  

   PART 3--BOARD OF TERRITORY INSURANCE OFFICE

   9.      Board of directors  
   10.     Composition of Board  
   11.     Period of appointment  
   12.     Chairperson  
   13.     Fees and expenses  
   14.     Resignation of member  
   15.     Termination of member's appointment  
   16.     Acting appointments  
   17.     Disclosure of interest  
   17A.    General duty to make disclosure  
   17B.    Register of members' interests  
   17C.    Loans to members  
   18.     Meetings of Board  
   19.     Chief Executive Officer  
   20.     Acting Chief Executive Officer  
   21.     Delegation by Board  

   PART 4--FINANCIAL MATTERS

   22.     Moneys of Office  
   22A.    Moneys are property of Territory  
   22B.    Motor Accidents (Compensation) Fund  
   22C.    Application of Fund  
   22D.    Fund not trust fund  
   22E.    Conflict of interests policy statement  
   23.     Application of moneys  
   25.     Financial records  
   25A.    Reimbursement of MAC expenses  
   26.     Payment of surplus amount in Fund to Territory  
   26A.    Payment of other surplus amounts to Territory  
   27.     Audit and annual report  
   28.     Office to pay taxes  
   28A.    Application of Corporations Act 2001  

   PART 5--MISCELLANEOUS MATTERS

   29.     Internal insurance  
   30.     Guarantee by Territory  
   30A.    Fee for guarantee  
   31.     Office may act as agent  
   32.     Terms of contract and execution of documents  
   33.     Provision of information and records to Minister  
   33A.    Treasurer's Determinations  
   33B.    Prudential supervision fee  
   34.     Regulations  

   PART 6--REPEALS AND TRANSITIONAL MATTERS FOR TERRITORY INSURANCE OFFICE AMENDMENT ACT 2005

   35.     Repeal of Regulations  
   36.     Application – fees for guarantee and prudential supervision  

   PART 7--TRANSITIONAL MATTERS FOR TERRITORY INSURANCE OFFICE AMENDMENT ACT 2006

   37.     Application of amendments  
   38.     Period for preparation of documents  
           ENDNOTES