Victorian Consolidated Legislation

Instruments Act 1958 - SECT 21

No insurance to be made unless insurer has interest

21. No insurance to be made unless insurer has interest

No insurance shall be made by any person or persons bodies politic or
corporate on the life or lives of any person or persons or on any other event
or events whatsoever wherein the person or persons for whose use benefit or on
whose account the policy or policies are made shall have no interest or by
gaming or wagering; and every assurance made contrary to the true intent and
meaning hereof shall be null and void to all intents and purposes whatsoever.