Victorian Consolidated Legislation

Victorian Managed Insurance Authority Act 1996 - SECT 3

Definitions

3. Definitions

In this Act-

Authority means the Victorian Managed Insurance Authority established by this
Act;

Board means the board of directors of the Authority;

controlling interest has the meaning given in section 3A;



department means-

   (a)  a Department within the meaning of the Public Administration Act 2004;
        or

   (b)  an office specified in section 16(1) of that Act;

director means director of the Authority;

guarantee includes indemnity; insurance business means the business of
undertaking liability, by way of insurance (including reinsurance), in respect
of any loss or damage, including liability to pay damages or compensation,
contingent upon the happening of a specified event; insurance services means
any services which are ancillary to or arise out of the provision of
insurance;

participating body means, subject to section 4A-

   (a)  a body that was a participating body for the purposes of this Act
        immediately before the commencement of section 3 of the Victorian
        Managed Insurance Authority (Amendment) Act 2001; or

   (b)  a statutory authority that in the current or any previous financial
        year has received more than 50% of its funding from the Consolidated
        Fund; or

   (c)  a body corporate (other than a statutory authority)-

   (i)  that in the current or any previous financial year has received more
        than 50% of its funding from the Consolidated Fund; and

   (ii) in which the State has a controlling interest;

   (d)  a person or body declared under section 4 to be a participating body
        for the purposes of this Act;

SIO means the State Insurance Office constituted and incorporated under the
State Insurance Office Act 1984.