79‑20 Extension of various references in79‑20 Extension of various references in Division 78 to rights of subrogation to cover other rights of recovery

79‑20 Extension of various references in Division 78 to rights of subrogation to cover other rights of recovery

Payments or supplies in settlement of claims (1) For the purposes of sections 78‑35, 78‑40 and 78‑75, a reference in those sections to a payment or supply made by an entity in settlement of a claim by an insurer in exercising the insurer’s rights of subrogation in respect of an *insurance policy includes a reference to a payment or supply that satisfies the following requirements: (a) the payment or supply is made by an entity in settlement of a claim by an *operator of a *compulsory third party scheme; (b) the claim was made by the operator in exercise of the operator’s rights to recover in respect of a payment or supply made under the compulsory third party scheme; (c) the claim was not made under an *insurance policy that is a policy of reinsurance. Payments or supplies in compliance with court judgments etc. relating to claims (2) For the purposes of section 78‑110, a reference in that section to a payment or supply made by an entity in compliance with a judgment or order of a court relating to a claim made by an insurer in exercising the insurer’s rights of subrogation in respect of an *insurance policy includes a reference to a payment or supply that satisfies the following requirements: (a) the payment or supply is made by an entity in compliance with a judgment or order of a court relating to a claim made by an *operator of a *compulsory third party scheme; (b) the claim was made by the *operator in exercise of the operator’s rights to recover a payment or supply made under the *compulsory third party scheme; (c) the claim was not made under an insurance policy that is a policy of reinsurance.