Section 1 - ASIC Corporations (Strata Title Co-Insurance) Instrument 2026/156 - ASIC Corporations (Strata Title Co-Insurance) Instrument 2026/156

1ASIC Corporations (Strata Title Co-Insurance) Instrument 2026/156

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ASIC Corporations (Strata Title Co-Insurance) Instrument 2026/156

I, Mary Zakaria, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date 4 March 2026

Mary Zakaria

Contents

Part 1—Preliminary 3

1 Name of legislative instrument....................................3

2 Commencement...............................................3

3 Authority....................................................3

4 Simplified outline of this instrument...............................3

5 Definitions...................................................3

Part 2—Declaration 5

6 Strata title co-insurance arrangement Product Disclosure Statements......5

7 Where declaration applies.......................................5

Part 3—Repeal 6

8 Repeal.......................................................6

Part 1—Preliminary

1 Name of legislative instrument

This is the ASIC Corporations (Strata Title Co-Insurance) Instrument 2026/156.

2 Commencement

This instrument commences on the day after it is registered on the Federal Register of Legislation.

Note: The register may be accessed at www.legislation.gov.au.

3 Authority

This instrument is made under paragraph 1020F(1)(c) of the Corporations Act 2001.

4 Simplified outline of this instrument

This instrument provides relief by modifying the Act so that only one insurer is required to prepare a Product Disclosure Statement for a home building insurance product that is jointly issued by more than one insurer under a strata title co-insurance arrangement.Certain requirements must be satisfied for the relief to apply.

5 Definitions

In this instrument:

Act means the Corporations Act 2001.

home building insurance product has same meaning as in subparagraph 761G(5)(b)(ii) of the Act.

participating share means, in relation to an insurer that has jointly issued a home building insurance product under a strata title co-insurance arrangement, the sum insured by the insurer under the product as a proportion of the total sum insured by all the insurers under the product.