27Approved insurers

#### 27 Approved insurers 27 Approved insurers > > (1) For the purposes of the Act, Dictionary, definition of approved insurer, paragraph (b), a Lloyd’s underwriter authorised to carry on insurance business, or exempted from authorisation, under the [Insurance Act 1973](http://www.legislation.gov.au/) of the Commonwealth is an approved insurer. > > > (2) In this section— > > > > Lloyd’s underwriter has the same meaning as in the [Insurance Act 1973](http://www.legislation.gov.au/) of the Commonwealth.