Insurance Contracts Amendment Bill 2013

Type
Government
Portfolio
Treasury 
Originating house
House of Representatives 
Status
Act 
Parliament no
43
Summary
Amends the
Insurance Contracts Act 1984
  in relation to: duty of utmost good faith; bundled workers’ compensation contracts; bundled contracts generally; electronic communication; powers of the Australian Securities and Investments Commission (ASIC); insureds’ duty of disclosure and duty to inform of duty of disclosure; eligible contracts of insurance; non-disclosure by life insureds; unbundling of contracts; remedies for non-disclosure and misrepresentation; remedy for misstatement of date of birth; cancellation of contracts; requests by third party beneficiaries to insurers for information; insurers’ defences in actions by third party beneficiaries; rights and obligations of third party beneficiaries under life insurance contracts; rights of third parties to recover against insurers; representative actions by ASIC on behalf of third party beneficiaries; non-disclosure or misrepresentation by members of group life insurance schemes; and subrogation. 

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Progress

House of Representatives
14 Mar 2013Introduced and read a first time
14 Mar 2013Second reading moved
19 Mar 2013Referred to Federation Chamber
19 Mar 2013Second reading debate
19 Mar 2013Second reading agreed to
19 Mar 2013Reported from Federation Chamber
19 Mar 2013Third reading agreed to
Senate
20 Mar 2013Introduced and read a first time
20 Mar 2013Second reading moved
20 Jun 2013Second reading debate
20 Jun 2013Second reading agreed to
20 Jun 2013Third reading agreed to


20 Jun 2013Text of bill as passed both Houses
28 Jun 2013Assent

Act no.: 75

Year: 2013

Documents and transcripts

Text of bill

Word Format PDF Format
Word Format PDF Format

Explanatory memoranda

Word Format PDF Format

Transcript of speeches

Proposed amendments

No documents at present

Schedules of amendments

No documents at present

Committee Information

No documents at present

Bills Digest PDF Format

Notes

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Helpful information

Text of bill

  • First reading: Text of the bill as introduced into the Parliament
  • Third reading: Prepared if the bill is amended by the house in which it was introduced. This version of the bill is then considered by the second house.
  • As passed by both houses: Final text of bill agreed to by both the House of Representatives and the Senate which is presented to the Governor-General for assent.

Explanatory memoranda

  • Explanatory memorandum: Accompanies and provides an explanation of the content of the introduced version (first reading) of the bill.
  • Supplementary explanatory memorandum: Accompanies and explains amendments proposed by the government to the bill.
  • Revised explanatory memorandum: Accompanies and explains the amended version (third reading) of the bill. It supersedes the explanatory memorandum.

Proposed amendments

Circulated by members and senators when they propose to make changed to the bill. For details about the outcome of proposed amendments please refer to either theĀ Votes and Proceedings (House of Representatives) or the Journals (Senate).

Schedules of amendments

Schedules of amendments list amendments agreed to by the second house are communicated to the first house for consideration. Subsequent action by either house may also be included in a schedule.

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