{"id":"F2009B00238","name":"Export Finance and Insurance Corporation Act 1991 - Declaration of Approved Causes of Loss","slug":"export-finance-and-insurance-corporation-act-1991-declaration-of-approved-causes-of-loss","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":76380,"registerId":"commonwealth-F2009B00238-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Export Finance and Insurance Corporation Act 1991 - Declaration of Approved Causes of Loss","content":"DECLARATION OF APPROVED CAUSES OF LOSS\n\nPURSUANT to section 21(1) of the Export Finance and Insurance Corporation Act 1991 (Cth) and a resolution of the Board, Export Finance and Insurance Corporation declares the following causes of loss to be approved causes of loss for the purposes of Part 4 of the Act:\n\n(a) expropriation or confiscation of property;\n\n(b) prevention or restriction of constructing, operating or dealing with property;\n\n(c) damage to or loss of effective control over property caused by a war-like operation. (War-like operation includes any operation in the course of war (including civil war), terrorism, riot, civil commotion, revolution, insurrection, rebellion or any similar uprising);\n\n(d) inability to transfer money to another country or convert money to another currency;\n\n(e) breach of contractual obligations;\n\n(f) inability to perform a contract due to external causes.\n\nExport Finance and Insurance Corporation revokes all prior declarations of approved causes of loss to the extent to which they are applicable to it.\n\nDated and effective from this 3rd day of September 2004.\n\nExecuted as a deed\n\n| THE COMMON SEAL of EXPORT FINANCE AND INSURANCE CORPORATION was affixed in accordance with section 6(3) of the Export Finance and Insurance Corporation Act 1991 (Cth) in the presence of:__________________________Name: Rizwan AkhundTitle: Senior Counsel | ))))) | __________________________Name: Angus ArmourTitle: Managing Director |\n| ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ----- | -------------------------------------------------------------------- |","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1355},"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"This declaration operates squarely within the statutory authority of section 21(1) of the Act, which expressly empowers the Corporation to declare approved causes of loss for its insurance and guarantee functions. It does not expand beyond the original legislative purpose of defining insurable political and commercial risks for Australian export and overseas investment activities."},"complexity_factors":["Nested definition of 'war-like operation' within paragraph (c) encompassing multiple overlapping concepts (terrorism, riot, civil commotion, revolution)","Vague catch-all provision in paragraph (f) referring to undefined 'external causes'","Cross-reference to Part 4 of the parent Act without explanatory context","Technical legal terminology requiring specialized knowledge (expropriation, effective control, deed execution)"],"plain_english_summary":"This declaration defines the six categories of political, operational and commercial risk that the Export Finance and Insurance Corporation (EFIC) will cover for Australian exporters and investors — i.e., the risks private insurers typically won’t insure. \n\nIt revokes earlier versions and governs insurance contracts issued under Part 4 of the Export Finance and Insurance Corporation Act, clarifying what EFIC will insure and why."}},"importantCases":[],"_links":{"self":"/api/acts/export-finance-and-insurance-corporation-act-1991-declaration-of-approved-causes-of-loss","history":"/api/acts/export-finance-and-insurance-corporation-act-1991-declaration-of-approved-causes-of-loss/history","analysis":"/api/acts/export-finance-and-insurance-corporation-act-1991-declaration-of-approved-causes-of-loss/analysis","conflicts":"/api/acts/export-finance-and-insurance-corporation-act-1991-declaration-of-approved-causes-of-loss/conflicts","importantCases":"/api/acts/export-finance-and-insurance-corporation-act-1991-declaration-of-approved-causes-of-loss/important-cases","documents":"/api/acts/export-finance-and-insurance-corporation-act-1991-declaration-of-approved-causes-of-loss/documents"}}